India, Maldives ink MoU to collaborate in public audit
MoU has been signed in order to enhance professional capacity of both the institutions and improve their methodologies in the field of public audit
The Auditor General’s Office of the Maldives and the Comptroller and Auditor General of India signed a Memorandum of Understanding (MoU) on Sunday to strengthen existing relations and bilateral cooperation between both sides.
The MoU was signed between Auditor General (AG) of Maldives, Hussain Niyazy and Comptroller and Auditor General (CAG) of India, Girish Chandra Murmu who is on an official visit to the Maldives at the invitation of the Auditor General of Maldives, said a Joint Press Release by Auditor General’s Office of Maldives and Office of the Comptroller and Auditor General of India.
In signing the MoU, both sides underscored the importance of collaborating with each other in the areas of mutual interest to enhance the professional capacity of both the institutions and improve their methodologies in the field of public audit, it said.
Signing of the MoU will pave the way for further cooperation in capacity building and emerging audit areas like IT, Environment & Climate Change, Natural Resources.
Both sides also agreed to conduct training programmes in their respective countries for their staff on a need basis and explore other means of capacity development support, and cooperate on areas that are mutually beneficial, the Joint Press Release added.
Auditor General of Maldives, Hussain Niyazy expressed his deep appreciation to his Indian counterpart for their continued support and generous assistance in helping his institution build and develop the necessary capacities of its staff through International Centre for Information Systems and Audit (iCISA) and International Training Centre for Environment Audit and Sustainable Development (iCED) of Comptroller and Auditor General of India.
CAG of India, Girish Chandra Murmu informed that sustainable development is at the forefront of the partnership between the two organizations, it noted.
He highlighted the importance of judicious use of resources and sustainability for future generations has given rise to the concept of Natural Resource Accounting (NRA), which is a crucial element of Sustainable Development, the Joint Press Release said.
While highlighting the gaining momentum of Natural Resource Accounting (NRA) in India, CAG Murmu, informed that India being a signatory to the Environmental Accounting efforts of the UN has committed to monitor 25 environment related targets with particular attention being paid to target no 15.9 related with Environmental – Economic Accounting, it mentioned.
He expressed confidence that through the collaborative efforts undertaken under the MoU, both SAIs could work together to strengthen each institution’s professional capacity and improve methodologies in the field of audit of public finance, the Joint Press Release stated.
The MoU led to the strengthening of ties that both the institutions had always enjoyed owing to close bilateral relations and regional cooperation between the Maldives and India and due to the fact both the institutions are members of the Asian Organization of Supreme Audit Institutions (ASOSAI) and the International Organization of Supreme Audit Institutions (INTOSAI), the release noted.
Institutional relationship between the Auditor General’s Office of the Maldives and the Office of Comptroller and Auditor General of India was formally established in 2008.