The Heads of the Supreme Audit Institutions (SAIs) in Africa that were members of the Assembly of English-speaking African Supreme Audit Institutions and the Southern African Development Community Organisation of Supreme Audit Institutions, convinced of the necessity of effective public audit, met in Budapest, Hungary on 11 October 2004 with a view to:
- improving relations among the member countries in the field of public audit, in spite of differing political, economic and social systems;
- meeting the need of the SAIs to work together, in view of the broad spectrum of increasingly close co-operation among the member countries;
- contributing to narrowing the gap among the differing systems, procedures and methods of public audit by encouraging the exchange of experience within the institutions and thereby bearing fruit for their own work;
- making a contribution to the objectives of the International Organisation of Supreme Audit Institutions (INTOSAI) and the African Organisation of Supreme Audit Institutions (AFROSAI) by drawing experience from the member countries; and
- promoting the ideals and objectives of the African Union,
and, in accordance with the purposes and principles of the United Nations, resolved to regroup to form a new legal entity called the African Organisation of English-speaking Supreme Audit Institutions, hereinafter referred to as AFROSAI-E.