The use of taxation revenues in the national budget means that public accounts must accountable and cost effective. The two-day seminar involves economic, finance, banking, audit, planning and budgeting officials from the national assemblies of Cambodia, Laos and Vietnam. Audits also play a role in anti-corruption efforts and are considered to be an effective tool to support oversight of a government’s administration. The outcomes of the meeting will be an important vehicle to strengthen units of the national assembly, auditing agencies and related government organizations. The seminar also hopes to improve audit procedures needed to support development and economic integration under the Asean framework. The outcomes will also help to implement plans to ensure effective mandates of the national assemblies to oversea policies of the government and mitigate any potential negative affects on the nation’s development. Laos is in its final year of a five-year plan. Although many achievements have been reached, such as low inflation and GDP exceeding 7 percent growth per annum, many challenges remain.
Source: Vientiane Times
