Muhith stresses performance auditing of public funds
Thursday, 1 April 2010
FE Report
The country is yet to introduce performance auditing though accurate auditing is very important in case of public funds, Finance Minister AMA Muhith said Wednesday.
"Auditing is not only a matter of accounting but a step towards a bigger objective. And we still do not have performance auditing," he said.
The minister was speaking as chief guest while inaugurating the newly constructed Financial Management Academy Building (FIMA) in the city. He urged the authorities concerned not to turn the FIMA into an accounting and auditing academy instead of a financial management academy.
He advised the 23 probationers, who are undergoing training at FIMA, to build up their character as well as to get new directives.
Abul Kasheem, director general of FIMA delivered the welcome speech.
"We need trained manpower where FIMA can play a very important role," Mohammad Tareque, finance secretary, said.
It would play its public financial management role effectively, if it is transformed into an autonomous institution.
The main challenges before the FIMA would be to see how they could address the overall public financial management risks, rather than the usual auditing and accounting activities, he said.
"Auditing can play an effective role in saving public money and preventing corruption," Ahmed Ataul Hakeem, comptroller and auditor general (CAG) said.
He said Tk 320.05 billion was recovered during the previous four fiscal years from 2003-2004 to 2007-2008 and Tk 52.25 billion only in 2008-09 fiscal year.
He said specilised skilled manpower is needed to ensure honest, efficient and cost effective governance and strengthen auditing.
The country is yet to introduce performance auditing though accurate auditing is very important in case of public funds, Finance Minister AMA Muhith said Wednesday.
"Auditing is not only a matter of accounting but a step towards a bigger objective. And we still do not have performance auditing," he said.
The minister was speaking as chief guest while inaugurating the newly constructed Financial Management Academy Building (FIMA) in the city. He urged the authorities concerned not to turn the FIMA into an accounting and auditing academy instead of a financial management academy.
He advised the 23 probationers, who are undergoing training at FIMA, to build up their character as well as to get new directives.
Abul Kasheem, director general of FIMA delivered the welcome speech.
"We need trained manpower where FIMA can play a very important role," Mohammad Tareque, finance secretary, said.
It would play its public financial management role effectively, if it is transformed into an autonomous institution.
The main challenges before the FIMA would be to see how they could address the overall public financial management risks, rather than the usual auditing and accounting activities, he said.
"Auditing can play an effective role in saving public money and preventing corruption," Ahmed Ataul Hakeem, comptroller and auditor general (CAG) said.
He said Tk 320.05 billion was recovered during the previous four fiscal years from 2003-2004 to 2007-2008 and Tk 52.25 billion only in 2008-09 fiscal year.
He said specilised skilled manpower is needed to ensure honest, efficient and cost effective governance and strengthen auditing.