Accounting system needs reform: Finance Minister – 2024-05-13 19:08:47

by times news cr

2024-05-13 19:08:47

Finance Minister Abul Hasan Mahmud Ali said that the accounting system needs to be reformed to meet the needs of international standards and development partners.

He made this comment while participating in the discussion meeting of Comptroller and Auditor General (CAG) of Bangladesh. The discussion meeting was organized on the occasion of the 51st anniversary of the CAG office on Saturday (May 11) and the three-day (May 12-14) special service program across the country.

The Minister of Finance said, in line with the constantly changing global management, economic challenges and the excellence of information technology, in addition to the conventional compliance and financial audits of international standards, performance audits, IT audits and environmental and climate change audit reports must be prepared.

He said that the accounting system needs to be reformed to meet international standards and the needs of development partners. A modern structure of accounts has already been prepared in collaboration with the Audit and Accounts Department. The transparency of the financial sector will be ensured through the preparation of up-to-date financial adequacy accounts.

Abul Hasan Mahmud Ali said that efficient and effective use of the government’s financial resources will be ensured if the audit activities are more effective. The Ministry of Finance will provide all-out cooperation to enhance the service capacity of CAG to complete quality and real-time audits in line with time.

Hafiz Uddin Ahmed, President of the Standing Committee on Public Accounts, said that more than four crore audit reports have been disposed of. More than 3 thousand crore rupees have been collected through this. However, it is a matter of concern that around 235 audit reports have been tabled in Parliament but not discussed.

Finance Department Secretary Dr. Md. Khayeruzzaman Majumdar said, we have done automation. Now pensioners are getting pension money sitting at home. CAG role is to be frugal in our various expenditure areas.

CAG Nurul Islam said, now there is no need to go to the bank to get any pension. Getting it at home. We have introduced one stop service. We have introduced efficient budget management. From Sunday (May 12) we are launching a 3-day special service program.

It was informed at the event that in 5 years of the 11th National Parliament (2019 to 2023), a total of 81 audit reports were presented to the National Parliament through the President. In the last 5 years, 814 audit objections were discussed in the Standing Committee on Public Accounts of the 11th National Parliament. During this time, 17 Audit Directorates have disposed of lakhs of audit objections as a result of the audit institute taking action as per the audit recommendations.

Apart from this, 3 lakh 14 thousand 715 people received pension e-service in the fiscal year 2022-2023. 21 lakh 94 thousand 50 people took GPF e-service. And 9 thousand 125 complaints were submitted.

In the last four financial years, 7 lakh 16 thousand 113 people have received pension e-service through CAG’s One Stop Service Center. 51 lakh 86 thousand 280 people have taken GPF e-service. And 40 thousand 102 complaints have been submitted.

Comptroller and Auditor General of Bangladesh. Chaired by Nurul Islam, President of Standing Committee on Public Accounts Hafiz Uddin Ahmed and Secretary of Finance Department were present as special guests. Md. Khairuzzaman Majumdar.

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