COA leads international meet on public debt audit
COA chief Gamaliel Cordoba (seconf from left) chairs the INTOSAI WGPD meet in Baku, Azerbaijan last June 5 to 7. PHOTO FROM CORDOBA OFFICE
The Philippines’ Commission on Audit (COA) led the annual meeting of the International Organization of Supreme Audit Institutions (INTOSAI) Working Group on Public Debt (WGPD) held on June 5 to 7 in Baku, Azerbaijan.
COA chief Gamaliel A. Cordoba chaired the three-day event of the INTOSAI WGPD.
The WGPD mandate stems from one of the three Goal Committees of the INTOSAI Knowledge Sharing and Knowledge Services.
It is tasked with preparing and publishing guidelines and other materials for use by SAIs to encourage the proper reporting and sound management of public debt and other tasks.
The 2024 Azerbaijan Meet focused on the theme “Responding to the Global Challenges of Public Debt.”
Delegates from 28 member-SAIs discussed were at the Bailu conference.
Experts from International Monetary Fund, World Bank, United Nations Conference on Trade and Development, and International Budget Partnership discussed their experiences and expertise in the domain of public debt.
In his welcome address, Cordoba highlighted the importance of knowledge-sharing and collaboration with stakeholders in responding to the challenges of public debt.
“Current conflicts greatly compounded a number of pre-existing adverse global public debt trends,” Cordobq said in his welcome remarks.
“Among these include the prevalent issue of risk management and debt sustainability, the due attention called for green financing and other climate/ environment-related debt concerns,” Cordoba said.
“This year’s meeting is envisioned not only as a forum for knowledge-exchange on these various topics but also to serve as a footing for SAIs to implement concrete actions in the workplace,” he said.
COA has chaired the WGPD in the past seven years and acts as secretariat to the working group on knowledge exchange and experience
among member SAIs and the INTOSAI community.
The 2025 WGPD meet will be held in Romania.
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