Innovate tools to check frauds: PM to auditors

New Delhi : Prime Minister Narendra Modi on Thursday exhorted auditors to develop technical tools to check frauds and improve efficiency in government departments as well as play a role in making India a USD 5-trillion economy.

Modi also emphasised that the government wants to move to evidence-backed policy making by 2022 and the the Comptroller of Auditor General (CAG) can contribute as a think tank by focusing on big data analysis.

"We must challenge the frauds. Both internal and external auditors need to find innovative methods to catch frauds.

We must need to encourage the core values of auditors for the same," Modi said while addressing a conclave of the CAG on transforming audit and assurance in a digital world.

He said a lot of attempts have been made in the last few years to control frauds in governmental organisations.

Stressing the need to make evidence-based policy formulation an integral part of governance, the prime minister said auditors must resort to technical tools to iron out any chances of fraud in organisations and give a new identity to new India.

Modi, who addressed the CAG conclave for the second time since 2016, said India is moving towards a USD 5-trillion economy target and "you (auditors) have a big role in the same.

Whatever you will do directly affect our policy making, efficiency, decision-making, business, investment, ease of doing business and more".

He also asked the CAG to think from the perspective of a think tank and not just from a point of view of an auditor whose job is to find faults.

Digital audit and digital governance can strengthen institutional memory for several organisations, he said adding that audit firms around the globe are moving towards crowd-based solutions.