The Comptroller and Auditor General (CAG) of India has signed a Memorandum of Understanding (MoU) with the Chamber of Accounts, Republic of Uzbekistan, in Tashkent.
The agreement, inked by the two Supreme Audit Institutions (SAIs), aims to enhance collaboration and exchange of expertise in the field of auditing between the two nations.
‘MoU, a milestone’
The signing of the MoU marks a significant milestone in promoting closer ties and collaboration among the SAIs of India and Uzbekistan, underscoring a shared commitment to excellence in auditing practices.
This MoU establishes a collaboration platform for exchange of knowledge and experience amongst auditing professionals to develop capacity for conducting audits.
“Our MoU is important as collaborative efforts and knowledge sharing among SAIs promote the dissemination of best practices and innovative solutions, creating a global network of expertise,” said CAG Girish Chandra Murmu.
Additionally, investing in capacity building ensures that SAIs are equipped with the necessary skills and knowledge to audit complex government programmes effectively, thereby contributing to the development of more resilient and sustainable governance frameworks, Murmu added.
“This MoU will encapsulate the urgency for our institutions to embrace a new phase of collaborative engagement. We have much to learn from each other’s best practices,” he added.
Adiz Muzaffarovich Boboyev, Chairman the Chamber of Accounts, Republic of Uzbekistan, emphasised the importance of the agreement in developing and strengthening the professional capacity and audit methodologies of their institution.
He also expressed his optimism for strengthening of institutional auditing at Chamber of Accounts under the broader umbrella of the MoU, which would pave the way for greater accountability and improved governance.