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G20: How supreme audit institutions support infrastructure development and help fight corruption
Deputy finance minister Dr. David Masondo has praised the role played by supreme audit institutions (SAis) such as the Auditor-General South Africa at the two-day SAi20 summit at Melrose Arch in Johannesburg.
Image: Timothy Bernard / Independent Newspapers
Deputy finance minister Dr. David Masondo has praised supreme audit institutions (SAi) such as Auditor-General South Africa (AGSA), saying they assist governments achieve their developments goals and tackle graft.
Masondo was speaking at the two-day SAi20 summit at Melrose Arch, Johannesburg on Tuesday. The SAi20 summit is part of the gatherings held under the country's year-long G20 presidency, with the main Summit taking place in November.
'This summit of the supreme audit institutions of the G20 nations serves as an important tributary to the broader G20 discussions, which in turn will flow into the even broader global discussions related to the sustainable development goals (SDGs),' he said.
According to Masondo, SAis play the crucial role that they do in auditing government and are a key enabler of their countries' abilities to deliver on their infrastructure development goals in the same way that the AGSA plays the key role that it does in enabling the country to realise its infrastructure development aspirations.
'The audits, both – financial and performance – contribute towards our ability to raise funding from development financial institutions, private sector funders and other organisations,' he explained.
In addition, investors rely on the audit reports produced by SAis and the audit reports help countries in examining the controls that need to be in place to ensure the efficient and effective deployment of resources towards the infrastructure delivery programmes.
'The SAis enhance our ability to exercise oversight on the nature, quality and diligence of our maintenance of our infrastructure. These actions are essential in ensuring that infrastructure investment not only happens but delivers value for money, reduces risks of cost overruns and corruption and accelerates progress toward the SDGs,' added Masondo.
Among the SDGs, for which a target of 2030 has been set, are building resilient infrastructure, promoting inclusive and sustainable industrialisation and fostering innovation.
Masondo said infrastructure is a key enabler of economic development, employment creation and delivering services to citizens.
'Mindful of this, as the South African sovereign, we have committed significant investments towards infrastructure development. We have an ambitious infrastructure development programs that have ever been undertaken in our country,' he said.
The AGSA, Masondo stated, has helped the government gain insight into the manner in which policies across skills development and education translate into action and outcomes in citizens' lived reality.
'We have an enhanced ability to exercise oversight on the various aspects of our service delivery efforts – being able to be specific in our inquiries and interventions, particularly with respect to the manner in which resources are being deployed and the extent to which they are generating the desired outcomes,' Masondo said.
