Asian Organization of Supreme Audit Institutions (ASOSAI)

Why in news?

President Droupadi Murmu inaugurated the16th Assemblyof theAsian Organization of Supreme Audit Institutions (ASOSAI)on September 24, 2024, in New Delhi.

This significant event marks the beginning of crucial discussions centered on the evolving role of Supreme Audit Institutions (SAIs) in promoting transparency and accountability.

About ASOSAI (Asian Organization of Supreme Audit Institutions):

• About:ASOSAI is one of the regional groups of the International Organization for Societies (INTOSAI)
• Aim:It focuses on enhancing cooperation and improving public accounting standards in Asia
• Founded:Established in 1979, it consists of 11 SAIs;
• Since then, membership has grown to 48 SAIs
• Resolution:First proposed by Mr. Tantuico, President of the Philippine SAI, at the 9th INTOSAI Congress (October 1977, Lima, Peru)
• Accession Act:In September 1978, 9 Asian SAIs signed the ASSOSAI Charter in Berlin, West Germany
• Meetings:The meetings are held by all members of the organisation and meet once every three years
• First meeting: held in New Delhi, India, in May 1979, where the rules and regulations were approved
• Secretariat:The General Secretary heads the ASOSAI Secretariat and is appointed by the Conference
• The Office of ASOSAI Secretariat is valid for three years renewable twice(up to 9 years)
• Currently, Chief Financial Officer of China's National Economic Ministry and Secretary General of ASOSAI
• Indian membership:India is a charter member of ASOSAI and CAG of India has been elected as ASOSAI President.