The Comptroller and Auditor General of India (CAG) and the Auditor General of Maldives have decided to develop and strengthen their respective institutions' professional capacity and improve methodologies in the field of audit of public finance.

       A memorandum of understanding, signed by CAG Girish Chandra Murmu and his counterpart Hussain Niyazy at Male yesterday, aimed at exchanging information in the field of public sector audit between India and Maldives.

       Both parties also agreed to conduct training programmes in their respective countries for their staff on a need basis and explore other means of capacity development support and cooperate on areas that are mutually beneficial.

       Murmu said sustainable development is at the forefront of the partnership between the two sides. He highlighted the importance of judicious use of resources and sustainability for future generations that has given rise to the concept of natural resource accounting (NRA).

       The NRA provides an outline of resource bases, pace of usage with an eye on their sustainability and embeds environmental aspects into the economic indices.