South Africa will assume the presidency of the International Organisation of Supreme Audit Institutions (INTOSAI), which is the second biggest institution after the United Nations, in November 2010 when it will host the 20th INTOSAI congress in Sandton, Johannesburg.

South Africa's upcoming chairmanship of the INTOSAI will give the country a chance to influence events affecting global economies.

"This will give South Africa an opportunity to play a significant role in influencing and facilitating issues of auditing and its importance throughout the world," said Auditor General Terence Nombembe on Wednesday.

The organisation, which will be chaired by South Africa for three years, is an international body of public sector auditors, with 188 member states - including over 50 African states.

The gathering, which will see over 600 auditors general, finance ministers and delegates, will take place from 22-27 November. It will look at the value and benefits of having auditors general, the approach to auditing, environmental issues and sustainable development.

On the periphery of November's gathering, South Africa will have an opportunity to hold bilateral talks with several nations on issues such as fraud and corruption, public debt and intensifying the independence of auditors general.

South Africa is the leading country for strength of auditing and reporting standards, as reflected in the 2010/2011 World Economic Forum's Global Competitiveness Report.

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