Date:31/12/2004 URL: http://www.thehindubusinessline.com/2004/12/31/stories/2004123102620300.htm

Back India, Oman sign pact on co-operation in audit activities

Our Bureau

New Delhi , Dec. 30

INDIA and Oman are to co-operate in the field of audit activities and exchange of experts in the areas of accountancy and auditing. A memorandum of understanding has been signed between the State Audit Institution of the Sultanate of Oman and the Comptroller and Auditor General of India.

The MoU will remain in force for five years and commits the two countries to encourage mutual co-operation in developing professional skills of their auditing staff members and for co-ordinating their efforts in regional and international meetings.

They will also encourage training activities, visits of experts and exchange of technical information and research output in auditing and accounting. The CAG has agreed to provide training facilities for the staff members of the State Audit Institution of Oman in its training institutions.

The MoU was signed in Muscat during the recent visit of the External Affairs Minister, Mr Natwar Singh, to Oman.