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The SCO Conference Took Place in the Accounts Chamber of the Russian Federation
11.11.2009 16:04
A conference of representatives of the superior financial control bodies of the Shanghai Cooperation Organization member states “The Superior Financial Control Bodies’ Role and Place in Counteraction to the World Financial Crisis” for the first time took place in the Accounts Chamber of the Russian Federation.

The participants of the meeting were unanimous that in conditions of difficult economic situation in the world it is reasonable to consider the superior financial control bodies as not only bodies exercising powers to control, but also as centers of sharing of amassed experience and information on the most critical questions of the economic development, as well as on efforts coordination in implementation of multilateral development programs.

Valery Goregliad, the auditor of the Accounts Chamber noted in his speech that the international cooperation in the sphere of financial regulation, financial markets monitoring and supervision for the purpose of prevention of possible crisis in the future, as well as the use of existing and long-term mechanisms of regional cooperation in the financial sphere can be rated among actual in conditions of the world crisis questions of cooperation of the SCO countries superior financial control bodies.

It was emphasized at the conference that the scale and potential of joint actions of the SCO states superior financial control bodies is much more than the one being now implemented. In modern conditions only by means of elaborating a coordinated position one can implement anti-recessionary measures the most advantageously and effectually and make the Organization a really strong player in conditions of new economic order.
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