KARACHI: Association of Chartered Certified Accountants (ACCA) and INTOSAI Development Initiative (IDI) have teamed up to highlight the important role of Supreme Audit Institutions (SAIs) during times of crisis.
The Covid-19 pandemic required unprecedented public sector interventions in our societies and economies globally. The governments had to react quickly and under significant pressure to protect both lives and citizens from the worst impacts of the pandemic, said a statement issued on Saturday.
SAIs are essential in holding governments to account in how they spend and allocate resources. To support SAIs, ACCA and IDI are releasing resources so that SAIs can carry out post-Covid-19 compliance audits that focus on transparency, accountability and inclusiveness.
Mike Suffield, director of ACCA’s Professional Insights says: ‘The nature of the current Covid-19 pandemic has meant public spending, in many jurisdictions, occurred through fast-tracked processes. As a result, risks of corruption, mismanagement and waste have certainly been increased.”
He further said: ‘This is where Supreme Audit Institutions must take the lead. They can help address concerns around equality and transparency as countries review how spending actually occurred – who received the benefits of this spending and who was left behind? With the help of Auditors General, we can begin to learn lessons from the pandemic and ensure our responses in the future better consider the importance of transparency, accountability and inclusiveness.