The three Autonomous District Councils of Meghalaya need to upgrade and improve their accounting practices to bring them more in line with modern financial reporting standards and improve their accounting and auditing framework.
District Council Affairs Minister Lahkmen Rymbui told a one-day state conference on “Strengthening Finance and Financial Accountability of Autonomous District Councils in Meghalaya.” “, organized here today by the Meghalaya Institute of Governance in collaboration with the Economics Department of NEHU. .
This was a first-of-its-kind initiative to bring together representatives of the self-governing district councils and state government and resource persons to discuss the challenges of financing local government.
In June, the Comptroller and Auditor General (CAG) pointed out that 10 accounts – two from KHADC, three from JHADC and five from GHADC – are still pending submission as of December 31, 2021. GHADC has not submitted accounts from 2016-17 to 2020-21, the JHADC from 2018-19 to 2020-21 and the KHADC from 2019-20 to 2020-21.
Following the observations of the CAG, the KHADC has decided to appoint an experienced Chartered Accountant who will also act as an investigator and guide accounting staff and department heads on how to properly maintain their accounts, receipts, cash books, etc. . and will report to the KHADC executive. committee on its findings.
Rymbui attended today’s event as chief guest, with KHADC Managing Member Titosstarwell Chyne as guest of honour.
Speaking on the occasion, Rymbui stressed the importance of accounting in this new era and said that it is essential that all autonomous district councils in the state are very dynamic in accounting without missing the mechanism. appropriate with changing government financial policies and rules. government. In this era of technology, new methods of accounting are being streamlined in the system in which the accounting wing of the respective ADC has to update and upgrade to improve the accounting and auditing framework of the councils, he added.
The objectives of today’s program were to orient representatives of the three CDAs, state officials and representatives of local state agencies on the steps rural agencies across the country are taking to strengthen their finances as well as accounting and auditing process reforms and also discuss the financial health and challenges of ADCs and the steps needed to improve financial transparency and accountability of the boards.