The International Organization of Supreme Audit Institutions (INTOSAI) Working Group on Public Debt (WGPD) met July 5-7, 2016, at the National Audit Office of China’s (CNAO) Audit Academy.
Mr. Liu Jiayi, CNAO Auditor General and Chairman of INTOSAI, and Mr. Chen Chenzhao, CNAO Deputy Auditor General, addressed participants of the meeting, which was chaired by Mr. Roberto Salcedo Aquino, Deputy Auditor General of Mexico.
During his keynote speech, Mr. Chen pointed out that government auditing is a significant component and important cornerstone and safeguard to national governance. “It is incumbent on government auditing to reveal hidden dangers, prevent potential risks and maintain national economic security,” Chen noted. He emphasized that it is a statutory function of government audit institutions to audit public debt and promote good national governance and added that, in this endeavor, the CNAO has been closely following the scale and regulation of government debt in China. Mr. Aquino, in his address to attendees, indicated that, in accordance with the Beijing Declaration issued during the XXI INCOSAI, SAIs have a “significant role to play in ensuring long-term financial policy sustainability.”
The WGPD meeting saw 31 representatives from 16 SAIs and international organizations (such as the INTOSAI Development Initiative and World Bank) in attendance and provided a forum for discussing a series of professional working documents and products to be submitted to the XXII INCOSAI.