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With reference to Asian Organization of Supreme Audit Institutions ASOSAI consider the following sta...........

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With reference to Asian Organization of Supreme Audit Institutions (ASOSAI), consider the following statements

It aims to foster understanding and cooperation among its member institutions by facilitating the exchange of ideas and experiences in public auditing.
ASOSAI is one of the regional groups of the Asian Development Bank (ADB).
It also conducts joint audits of member countries to enhance transparency and accountability in public financial management.

Which of the statement(s) given above is/are correct?

Only One

Only Two

All Three

None

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Explanation:

Only statement 1st is correct.

Statement 1 is correct. ASOSAI’s objectives include promoting understanding and cooperation among its members through the exchange of ideas and experiences in the field of public audit. India is a member of the Asian Organization of Supreme Audit Institutions (ASOSAI). India is a charter member of ASOSAI, and the CAG of India has been elected as the Chairman of ASOSAI for the period 2024-2027.
Statements 2 and 3 are incorrect. ASOSAI is not associated with the Asian Development Bank. It is one of the regional groups of the International Organization of Supreme Audit Institutions (INTOSAI). ASOSAI does not conduct joint audits of member countries. Its primary functions include organizing conferences, promoting research, and facilitating training and education for government auditors.

Hence option 1st is correct.

By: Shubham Tiwari

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