CAG considers natural resource accounting | Bhubaneswar News

BHUBANESWAR: The Comptroller and Auditor General (CAG) has decided to keep natural resource accounts which will help the States and the Center in the management of natural resources.
Speaking at the inauguration of the new Senior General Accountant’s building in Keshari Nagar here on Monday, CAG Girish Chandra Murmu said that the audit of natural resources will also help reduce damage to the environment.
The audit will include the mapping of resources, their exploitation, fund expenditure and revenue, sale of natural resources and environmental impacts. “It will also improve the accountability of leaders,” said Murmu.
As part of natural resource accounting, the CAG will prepare a balance sheet of key natural resources such as mineral and energy resources, water, wildlife and land resources, sources said.
The CAG also offered district-focused audits to assess growth in all sectors and advise local communities to improve delegated functions given the huge amount of funds transferred by the Center and the state government.
“Huge funds are given to these local organizations, but very little information is available on how they are spent. The plan is to strengthen the audit of local bodies. The CAG will not audit local bodies directly, but rather assist states in the capacity to build and provide workforce support for the annual audit of local bodies, ”said Murmu. Currently, these local bodies are audited by organizations appointed by the state government.
Murmu stressed that the main objective of the organization is to improve the management of establishments and to suggest added value to the performance of the organization in the provision of services.
The new office building in the capital city of Odisha covers 1.1 acres of land and is a 40,000 square foot green building constructed at an estimated cost of Rs 28.26 crore.

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