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MEGATREND 2030 AND THE FUTURE OF SUPREME AUDIT INSTITUTIONS
The Megatrend 2030 is a forecast of future disruptions in the global economy, from politics and economics to technology and society. It identifies key areas of focus for the next decade, and is based on a broad set of global trends and scenarios. These include globalisation, digitalisation and automation; a changing energy landscape; climate change; and gender equality and social inequality.
The key areas of focus for the Megatrend 2030 are: deregulation, digital transformation, green transition, technological innovations, civic engagement, healthcare, education, and disruptive business models. Additionally, Megatrends include the potential emergence of megacities, the rise of the global middle class, and changes to global demographics and geopolitics.
However, the global challenges in 2030 might categorized as following.
1. Climate change and global warming: One of the greatest challenges of the 21st century is to reduce greenhouse gas emissions, limit global warming, and adapt to the inevitable changes in climate patterns.
2. Population growth: As the population is expected to reach 10 billion by 2030, there will be increased pressure on resources, including water, food, and energy. There will also be an increased demand for infrastructure and services, such as housing, transportation, healthcare and education.
3. Global economic inequality: Even as the global economy grows, economic inequality will remain a challenge. There is still a wide gap in wealth and income between developed and developing countries.
4. Security threats: As the world becomes more interconnected, terrorist and cyber-attacks become more frequent and more sophisticated. This will require a concerted global effort to ensure security and safety.
5. Water scarcity: With increasing demand and a changing climate, water resources will be increasingly scarce and highly contested in the coming years.
6. Disease pandemics: Infectious disease outbreaks have the potential to quickly become pandemics that can spread worldwide. Strengthening public health systems will be vital to contain such diseases.
7. Digital transformation: Digital technologies can have broad implications in areas such as healthcare, finance, education, and transportation. Balancing the benefits and risks of these technologies will be critical.
8. Sustainability: Finding ways to meet the needs of the present without compromising the ability of future generations to meet their own needs will be essential to achieving true sustainability.
Hence, before 2030 SAIs should prepare themselves for these challenges. The future of Supreme Audit Institutions (SAIs) is likely to be shaped by the increasing emphasis on financial transparency and accountability in public governance. As public oversight, reporting, and accountability become more important components of public sector operations, SAIs are expected to grow in importance and scope.
With the useful of digital technology and faster, more effective communication methods, SAIs can anticipate greater emphasis on their role as trusted third parties who provide the public with essential information and analysis to guide decision making and ensure the proper functioning of public systems.
Advances in other areas of technology, such as data analysis and visualization, will also likely shape how SAIs conduct their audits, enabling them to provide deeper insights into their examinations. Ultimately, SAIs can expect to remain integral components of public governance, relied upon to evaluate and report on the fiscal operations of governments and organizations.
Prepared by
Dr. Sutthi Suntharanurak
Director of International Affairs Office
State Audit Office of the Kingdom of Thailand
For further information, please contact
sutthisun@gmail.com
25 Dec 2022
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