Finance minister urges reforms to audit system for better resource management

Finance Minister Abul Hassan Mahmood Ali has called for reforms to the country's public audit system, advocating the changes aligning with international standards and meeting the expectations of development partners.
"More efficient audits will ensure effective use of government financial resources," he said at an event in Dhaka on Saturday, marking the 51st anniversary of the Office of the Comptroller and Auditor General (CAG) of Bangladesh.
Mr Ali promised his ministry's full support to enhance the CAG's capacity to conduct high-quality and real-time audits.
As the chief guest at the event, he elaborated on the ongoing modernisation and automation efforts intended to ensure financial transparency. The minister urged the office to maintain transparency in formulating updated financial and accounting adjustments.
He emphasised prioritising performance audits, IT audits and environmental and climate change audits alongside conventional compliance and financial audits.
This prioritisation, he said, is necessary to keep pace with evolving global management practices, economic challenges and progress in information technology.
The Office of the Comptroller and Auditor General plays a vital role in promoting good governance, accountability and transparency. It achieves this by delivering high-quality audit reports on public accounts, covering government authorities and officials.
The CAG, as the supreme audit institution, operates independently, free from the direction or control of any other entity. The CAG's audit services fall into three main categories: compliance audits, financial audits and performance audits.
Mr Ali urged the CAG to implement its strategic plan for 2021-2025, aligning it with the Public Financial Management (PFM) reforms strategy for 2016-2021 and the PFM action plan for 2023-2028.
Finance Division Secretary Md Khairuzzaman Mozumder said there have been revolutionary changes in the public accounts and financial reporting. He lauded the CAG for its remarkable contribution to these advancements.
Hafiz Uddin Ahmed, chairman of the Parliamentary Standing Committee on Public Accounts, mentioned their increased focus on resolving unsettled public accounts through more frequent meetings.
Nurul Islam, the Comptroller and Auditor General of Bangladesh, talked about their efforts towards full automation in service delivery, including real-time auditing of public projects.
He also announced the CAG's transition to smart cards for service updates, replacing outdated paper-based methods.
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