NEW DELHI, Jan 31 : Comptroller and Auditor General of India (CAG) K Sanjay Murthy on Saturday said synergy between human expertise and advanced technologies can make auditing more efficient and foster greater transparency in the new economy.
Speaking at the World Forum of Accountants here, he said public accountability comes from the need to build and sustain a relationship of trust between the public sector and the citizen it serves.
It is about the public sector demonstrating its competence, reliability, and integrity in a way that allows the public to judge its trustworthiness in using public money and resources, he said.
“The increasing complexity of modern governance systems, which have seen the rise of digital technologies and the shift towards minimum government and maximum governance, has ushered in a new understanding of accountability – one that emphasises transparency, public participation and real time scrutiny,” Murthy said.
Further, as the future generations are taking centre stage of public discourse, along with carrying a very high level of expectations from all institutions to deliver, core values of transparency, efficiency, and integrity were of and are becoming more and more important, he said.
These developments necessitate reimaging public accountability for the 21st century.
He said recent developments in AI and machine learning are expanding the scope of what auditors can observe and accomplish.
Recognising both the potential and the need for safeguards/guardrails, the Comptroller and Auditor General of India (CAG) has issued an AI Strategy Framework document to ensure these technologies increase audit precision while preserving fairness, explainability, and institutional accountability.
“Moving ahead in the areas of data analytics and AI requires simultaneous enhancement of human resource capacities,” Murthy said.
He said public-sector partnerships, external collaborations and innovative thinking have the potential to accelerate impact of adoption of AI in any institution.
“The synergy between human expertise and advanced technologies can create more efficient, effective, and insightful accounting and auditing, ultimately fostering greater trust and transparency in the new economy and contribute towards the goal of Viksit Bharat,” he said.
Murthy further said that the future of public accountability mechanisms is closely linked to the evolution of governance in the digital era, where inclusivity, security and public trust in institutions, both nationally and internationally, are paramount.
In his address, Murthy also emphasised that the accounting and auditing profession needs to assess the risks and develop credible tools to manage and mitigate the same in some of the emerging areas, like, sustainable development and information technology-enabled operations. (PTI)
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