Headed by Mr. Yuan Ye, Deputy Auditor General of China, the CNAO delegation of 4 attended the 21st Indo-China Audit Seminar on Public Debt Audit in Karala, India from 26-30, November 2014.
The seminar was held under the framework of MOU between Supreme Audit Institutions of India and China, signed in January 1992. Since then, there have been 20 audit seminars successfully held in collaboration, which covered a wide range of meaningful topics and brought in fruitful achievements.
In the main theme speech, Mr. Yuan Ye reviewed communications between two SAIs and quoted words of appraisal by Mr. Liu Jiayi, as that active exchanges between India and China Auditing set models of bilateral communication under the framework of ITOSAI and ASOSAI, and introduced the latest development of China auditing. In the seminar session, CNAO proposed three country papers, namely Government Debt Audit of China, Organization and Implementation of CNAO's Government Debt Audit, Risk Evaluation Methodology for Governmental Debts by the CNAO. While the Comptroller and Auditor General of India proposed two country papers, namely Public Debt in India, and Audit of Public Debt.
Those papers brought in hot discussions and introduced the best practices as well as methodologies in public auditing, with great influence in the future auditing work.