Hyderabad, Mar 24 (PTI): City-based National Institute of Rural Development and Panchayati Raj (NIRDPR) on Thursday said it has signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of India (ICAI) for collaboration in the development of Accounting/Auditing Standards for Rural Local Bodies.
The MoU signed in virtual mode, will also lead to collaboration ensuring accountability and transparency through social audit, maintenance of proper books of accounts and finance by various Rural Development functionaries, better systems of internal audit and control through data mining, preparation of detailed project reports by rural micro and small entrepreneurs, a release from NIRDPR said.
NIRDPR Director General G Narendra Kumar said that the MoU is a landmark event in the Rural Development milieu especially in the context of localisation of Sustainable Development Goals with a view to develop government auditing, achieving Gram Panchayat Development Plan across 2,50,000 rural local bodies spread across the country.
He further said proper financial management of Gram Panchayats, submission of Utilisation Certificates for the money spent, preparation of Detailed Project Reports for Rural Development programmes by focusing on Return on Investment, seamless cash flows through Direct Benefit Transfer and Public Financial Management System for effective utilisation of funds, will make rural India strong and accountable.
A core committee would be constituted soon to finalise annual action plan to achieve the intended objectives of the MoU, he said.
ICAI President Debashis Mitra said that they have developed accounting/auditing standards for Risk Based Internal Audit in respect of Urban Local Bodies and would like to develop the same for Rural Local Bodies for the larger benefit of the nation.
Speaking on the occasion Nagendra Nath Sinha, Secretary, MoRD stressed the need to achieve middle income status for India by increasing its per capita income from USD 2000 to USD 10000 per annum.
To realise this dream, ICAI and NIRDPR may work in tandem to meet the aspirations of 1.4 billion Indian citizens through effective financial, social and internal audit mechanisms which should also bring out possible improvements to implementation of Rural Development Programmes, he said, according to the release.
Sinha also sought help of ICAI to develop an effective financial management framework for NGOs. He hoped that coming together of two institutions would usher in accelerated, more effective and transparent rural development, the release added. PTI VVK VVK SS SS
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Source: The Print
