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Bigger Voice for SA in World Economy
Source: The Good News
Source Date: Friday, October 01, 2010
Focus: Citizen Engagement
Country: South Africa
Created: Oct 01, 2010

"This is something that we will have a better platform with better insight to enhance not only our own country but the continent as well," he said.

South Africa will assume the presidency of the INTOSAI, which is the second biggest institution after the United Nations, in November this year when it will host the 20th INTOSAI congress in Sandton, Johannesburg this year.

The organisation, which will be chaired by South Africa for three years, is an international body of public sector auditors, with 188 member states - including over 50 African states.

The gathering, which will see over 600 auditors general, finance ministers and delegates, will take place from 22 - 27 November. It will look at the value and benefits of having auditors general, the approach to auditing, environmental issues and sustainable development.

On the periphery of November's gathering, South Africa will have an opportunity to hold bilateral talks with several nations on issues such as fraud and corruption, public debt and intensifying the independence of auditors general.

South Africa is the leading country for strength of auditing and reporting standards, as reflected in the 2010/2011 World Economic Forum's Global Competitiveness Report.

The country currently participates in 14 working groups of INTOSAI, contributing towards the development of accounting standards. A booklet of accounting standards will be launched in November for both developed and developing nations.

While holding the chairmanship, South Africa hoped to work closely with the donor community.

"It's a community of funders that has got a lot of input in the structural adjustment programmes in most of the African states. These are institutions that contribute immensely to the revenue base of most African countries.

"When we spoke to the community and established a memorandum of understanding, one of the issues raised by the community was the extent of reliance that they have on Auditor Generals in order to provide assurance on the effective use of those funds," explained Nombembe.

He said the congress will be a reflection of confidence that the international community has in South Africa.

Sourced by SA – The Good News via BuaNews

 

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