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–    Plan to reduce wastage of public funds Audit offices across the Caribbean will be collaborating to share experiences, particularly in the area of revenue collection, to enhance their operations in individual countries, says Deodat Sharma, Guyana’s Auditor General.According to Sharma, this decision was taken at the Ninth Congress of the Caribbean Organization of Supreme Audit Institutions (CAROSAI) which he attended recently in Trinidad and Tobago.Caribbean Auditors General at Ninth Congress of the Caribbean Organization of Supreme Audit InstitutionsThe conference was held between March 18 and March 21 under the theme “Collaboration to promote best audit practices”. Accompanying Sharma to the congress from Guyana was Audit Manager, Dhanraj Persaud.Sharma stated, “The auditors are exploring opportunities to undertake a cooperative audit of revenue collection throughout the region and report the results to their respective Governments. The audits will report on how well their Governments are assessing and collecting taxes,cheap nfl jerseys online, duties and fees.”For instance, the auditors would be looking at the Value Added Tax (VAT) system and exchanging the information obtained. Sharma said that this would be an interesting exercise since VAT is relatively new in Guyana and would benefit from other countries that implemented VAT years ago.He said that Leigh Trotman, Auditor General of Barbados, would lead this initiative and works are expected to begin in coming months.Auditors General of the Caribbean were informed by Lyn Provost, Auditor General of New Zealand, who was the Secretary General of the Pacific Association of Supreme Audit, about how their group of public sector auditors is dealing with similar challenges.Sharma presented the lead paper on the congress’ theme. The paper was used as a base to discuss lessons learned from collaborative initiatives used by individual members; assess the effectiveness of CAROSAI; and ascertain how CAROSAI could facilitate wider collaboration among members.According to Sharma, auditors focused on the challenges facing Supreme Audit Institutions including the implementation of the United Nations resolution requiring independent national public sector audit institutions and implementation of new international auditing standards.The auditors are implementing a plan to help their Governments achieve greater efficiencies and reduce wasteful expenditures.