Held as part of the 24th OLACEFS General Assembly

On November 25 2014, on the first day of the 24th OLACEFS General Assembly in Cusco, a panel of experts debated initiatives for governance and the fight against corruption. The panel included presentations by Julio Bacio Terracino, Policy Analyst for Public Governance and Territorial Development at the OECD; Manuel Vargas, Leading Expert in Financial Management at the World Bank; Carlos Santiso, Head of Institutional Capacity of the State Division at the Inter-American Development Bank (IDB) and Anga Timilsina, Director of the UNDP Global Anti-Corruption Initiative.

The representative of the World Bank, Manuel Vargas, asserted that Supreme Audit Institutions are extremely necessary for the good administration of public finances as they assess how public resources are deployed, taking into account financial information and regulation and evaluating both the performance of programmes and how efficient and effective they are. “For he World Bank this is necessary in order to reduce poverty and promote the distribution of wealth.”

Vargas also commented on the work carried out by the Court of Auditors of the Union of Brazil (TCU), through INTOSAI, and how active the Brazilian SAI is in proposing innovations to improve technical matters, citing its leading role in coordinated audits. “There are a number of activities that the TCU is developing which improve the management of public funds and that constitute an example internationally.”