Transforming Forensic Auditing and Cybersecurity: Insights from CAG Sanjay Murthy
NEW DELHI: The Comptroller and Auditor General (CAG) Sanjay Murthy has announced a groundbreaking initiative to integrate technology into the auditing framework of India. This visionary approach is geared towards preparing for a future where the country’s GDP could reach an impressive $30 trillion by 2047.
Building a Tech-Driven Ecosystem
Speaking at a recent gathering of chartered accountants, Murthy emphasized the importance of a tech-driven ecosystem for public oversight. He stated that the CAG is actively enhancing its capacity-building framework by specializing in critical domains such as forensic auditing, cybersecurity, and AI-driven analytics.
Robotic Process Automation: A Game Changer
Murthy highlighted the potential of robotic process automation (RPA) to significantly reduce workload and improve audit compliance. By automating repetitive tasks, RPA allows for comprehensive audits that encompass entire populations rather than just samples. This innovation promises to elevate the standards of auditing in India.
The Road Ahead: A Digital Economy
As the nation gears up for a $30 trillion economy, Murthy envisions a fully digital landscape. He remarked, “A $30 trillion economy will necessarily be digital, as organizations expand into emerging areas and global champions are born.” The accounting and auditing professions stand to be crucial enablers in this transformation towards a technology-driven and knowledge-based economy.
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