International Journal of Government Auditing – April 2009
INTOSAI Establishes Task Force on the Global Crisis
"To ensure continued stability and protect the economic gains of both developed and developing countries, we need to consider deep and systemic reforms based on an inclusive multilateralism for a global financial system that can better meet the challenges of the 21st century."
Statement on the global financial crisis by the U.N Secretary-General, November 2008
The current financial crisis presents many challenges to countries around the world and to their supreme audit institutions (SAI). It demands that SAIs redouble their efforts to help provide accountability and lessons learned for their governments. Although SAIs differ in their legal authorities and mandates, they are generally well positioned to provide independent and objective analyses of these events and can contribute much to efforts to address them. In keeping with these concerns and considerations, the INTOSAI Governing Board established the Task Force on the Global Financial Crisis at its 58th meeting in Vienna in November 2008. The U.S. Government Accountability Office (GAO) is pleased to have been asked to chair this important effort. More