CAG full form
Comptroller and Auditor General of India
CAG full form is Comptroller and Auditor General of India. The CAG is the Central Advisory Group, a government-funded agency based in India that audits all central government expenditures as well as those funded by taxation. Its headquarters are located on Parliament Street in Delhi, where it has a long history of past audit reports dating back to the
The 1860s when it was known for its strong work ethic and scrutiny of expenditures. Until recently it was considered one of India’s most trusted and hard-working organizations, with a strict code of conduct for its staff that discouraged nepotism and corruption.
The Central Government of India, through its cabinet position known as the Junior Minister for Finance (or CAG), has immense power to investigate any financial frauds that take place within our country.
The most high profile case was the 2G spectrum allocation scam where they were able to remove former Telecom Secretary Rakesh Grover from office after he refused an order by Prime Minister Manmohan Singh stating his inability to respond further regarding armorials used during telecom auctions when there was no question asked nor did anyone complain at all until then!
The President of India appoints a senior cabinet minister to serve as the CAG. This individual has been recommended by Prime Minister for six years in office, with Shashi Kant Sharma currently holding that position since 23 May 2013
The Central Government Controller and Auditor General (CAG) roles are crucial functions within our government system which ensure accountability at every level from local levels up through national headquarters. With such important duties outlined out there, I believe you will find this information very interesting indeed!
The CAG is allowed to do the following under the Companies Act, 1956:
- Appoint and re-appoint the auditor of a government business entity.
- A government company’s financial records should be audited.
- Any matter regarding the audit should be addressed to the auditors.
- Do a test audit of the books to see if anything is amiss.
- The statutory auditors’ audit report should be supplemented.
The following are some of the key duties assigned to CAG by the Parliament and Constitution:
- To audit the accounts of expenditure from India’s and each state and territory’s unified fund, as well as individual state funds.
- CFOs are responsible for auditing the accounts of government agencies that operate on a contingency basis and the public accounts of India and each state.
- To audit the books of central or state governments’ departments, including trade, manufacturing, and profits and losses.
- To examine the receipts and expenditures of government companies and other organizations that depend on central or state funds.
- The Chairman of the Board of Directors should submit audit reports on the center’s accounts to the President.
- To the Governor, state auditors provide audit reports of accounts of the state.
|CAG||Comptroller and Auditor General of India|