ICAI seeks robust auditing system for govt departments
June, 23rd 2016
The Institute of Chartered Accountants of India (ICAI) on Friday stressed the need for a robust auditing system in state and central government departments.
M Devaraja Reddy, ICAI president, was in the city for a national-level seminar. He said. "The prevailing auditing systems in many governmental organisations are not at par with those in advanced countries. The system also lacks professionals and thus there is huge scope for further improvement. In many government departments, people with irrelevant educational background are handling accounts. It should not happen."
Reddy added that there should be an audit of governments spending at the district level. "The government is spending lot of money at district level but there is no full proof and efficient system of auditing. Professionally qualified persons like chartered accounts can keep a watch on the government's spending and eventually help the authorises to channelize the public money," he said.
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