Enhancing Government Performance, Accountability, and Foresight

This speech was given by the Comptroller General before the Nanjing Audit University of China (NAU) on August 26, 2007. Asia has a long and impressive history. But just as important, Asia's future has never looked brighter. Today, the nations around the Pacific Rim are playing a pivotal role in the world's economy. China, for example, is industrializing at a rapid pace and is now a leading supplier of consumer goods to the United States and many other countries. China is also one of the largest investors in U.S. government debt. Thank you for lending us some of our savings. Most Chinese have a much better appreciation of the importance of savings than most Americans do. As you know, most Americans are great spenders and poor savers. Fortunately, I am not a typical American in this regard. Today, I'd like to speak to you about a role that more supreme audit institutions (SAI) need to add to their portfolio of capabilities. That role has two components: first, providing government officials with more insight into which government programs and policies are working well and which ones are not. Second, providing government officials with foresight about key emerging issues. Such informative and forward-thinking roles should supplement and complement the traditional audit responsibilities of SAIs. Unfortunately, many in today's world, especially in the United States, are consumed with the here and now. Far too little thought is given to what's come before or what lies ahead. Too many individuals tend to focus on their next paycheck. Too many company executives focus on the next quarterly earnings report. Too many politicians focus on the next election cycle rather than the next generation. And too many countries focus on their immediate and sovereign needs while forgetting that we're all inhabitants of planet Earth. It's vital for all organizations to understand the big picture, to learn from the past, and to prepare for the future. We need to actively manage the opportunities and risks that come with change. After all, change isn't necessarily a bad thing. In fact, change is essential for progress and innovation.