CAG to launch natural resource accounting, to help states enable real-time auditing of local bodies



Bhubaneswar, Nov 22 (PTI) India’s Comptroller and Auditor General (CAG) said on Monday he would start accounting for natural resources such as mines and assist state governments to ensure real-time auditing of local organizations becomes possible.

That’s what CAG Girish Chandra Murmu said at the grand opening of the new office building for the Senior General Accountant (Audit) here.

“We are in the process of conceptualizing natural resource accounting (NRA) which would improve executive accountability. The amount of natural resources available in the mines, the expenses incurred for its extraction and the profitability or otherwise of the mines will be audited by the CAG, ”Murmu told reporters.

He said that under the NRA, the asset account will provide information on a state’s total mineral resources, its annual extraction, estimated market value and actual income earned.

The NRA reports will also contribute to good management of natural resources and reduce environmental damage from their exploitation, said Murmu.

Stating that the nation is looking forward to the Sustainable Development Goals to improve the lives of future generations, Murmu said, “We offer district-focused audits to assess growth in all sectors.”

States are now auditing local bodies, Murmu said, adding that the CAG would give them full cooperation, which would allow real-time audit of local bodies.

“Huge funds are given to these local organizations, but very little information is available on how the spending is made. The plan is to strengthen audits of local bodies, ”he said.

He stressed that the CAG will not directly audit the accounts of local organizations.

(This story was posted from an agency feed with no text changes. Only the title has been changed.)



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