Pretoria - South Africa's Auditor General Terence Nombembe is hosting over 600 of his counterparts and finance ministers from around the world at the 20th congress of the International Organisation of Supreme Audit Institutions (INTOSAI).
The congress - XX INCOSAI 2010 - runs from November 22 - 27. It will look at the value and benefits of having auditors general, environmental auditing and sustainable development.
"As [auditors] from around the world, our mandates are similar in that we need to add value to our societies by enabling accountability and governance within our respective public sectors," said Nombembe.
Nombembe added that it was fitting for South Africa to host this event, as it was one of the leading countries in accounting and auditing.
The event will see South Africa assuming presidency of INTOSAI - the second biggest institution after the United Nations - which has 188 member states, including over 50 African states.
South Africa will now chair INTOSAI for three years. Nombembe hoped to work closely with the donor community.
"I look forward to the opportunity this congress provides for us as [Supreme Audit Institutions of South Africa] to contribute towards more transparent and accountable audit systems and promote greater accountability, as well as an improvement in the use and management of public resources.
"In this way, we will be in a better position to accelerate the process of socio-economic development in all our countries," said the Auditor General.
On the periphery of this week's gathering, South Africa will have an opportunity to hold bilateral talks with several nations on issues such as fraud and corruption, public debt and intensifying the independence of auditors general.
South Africa currently participates in 14 working groups of INTOSAI, contributing towards the development of accounting standards.
INCOSAI will also be attended by delegates from the UN and World Bank, who will deliver two reports titled 'The Value and Benefits of Supreme Audit Institutions' and 'Environmental Auditing and Sustainable Development'.
The International Standards for Supreme Audit Institutions will be launched and countries will have the opportunity to sign the Global Audit on Climate Change.
