Auditor General Of Pakistan Audits 8,746 Audit Formations In FY2017-18

The Department of Auditor General of Pakistan (DAGP) audited 8,746 audit formations with Rs. 10,623 billion audited expenditure out of total 39,425 formations with Rs. 12,451 billion total audit-able expenditure during the fiscal year 2017-18.

ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Apr, 2018 ) :The Department of Auditor General of Pakistan (DAGP) audited 8,746 audit formations with Rs. 10,623 billion audited expenditure out of total 39,425 formations with Rs.

12,451 billion total audit-able expenditure during the fiscal year 2017-18. "This reflects the working and achievements of DAGP with regard to set targets and goals for its field audit formations," said Audit General of Pakistan, Javaid Jehangir, while chairing the meeting of Policy Board of DAGP.

He said that considering the importance of reaching out to the stakeholders, the DAGP had always highlighted partnership as its key core value.The department sought better relationship with its stakeholders by aligning its goals with government reform agenda, improving communication with its stakeholders and working as partners to help clients to achieve their objectives economically, efficiently and effectively, the AGP added.The previous meeting of Policy Board had deliberated on initiatives and reforms taken up by DAGP, proposing a way forward for collaboration with professional accounting and auditing bodies in Pakistan, and ways to engage with social sector and NGOs in audit Planning.The current policy board meeting deliberated on audit themes recommendations for Public Sector Audit plan 2018-19 and is an effort to take stakeholder input before finalizing the audit planning activity of DAGP.

AGP said that the Department has always endeavoured to continue its reform process to meet the emerging requirements of its clients and Parliament and has taken many initiatives over the years as part of its reform agenda.There was a major paradigm shift when DAGP transformed all the codes of accounts and Audit by replacing old codes/ manuals with new Financial Audit Manual and new reporting templates meeting international reporting standards requirements.

It is a continuous process and we continue our reform process, AGP added.Participants of policy board meeting lauded the efforts of AGP towards modernizing the Department by introducing major reforms in key thematic areas of auditing and gave suggestions on ways to improve interaction with stakeholders involving NGOs, Civil Society Organizations and Accounting Bodies in Pakistan.The meeting was attended by the representatives of State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Federal Board of Revenue (FBR), Ministry of Finance, Institute of Chartered Accountants of Pakistan (ICAP), Institute of Cost Management Accountants of Pakistan (ICMAP) as well as other members of the policy board.