Title : THE COMPTROLLER & AUDITOR GENERAL OF INDIA

Date : Dec 12, 2021

Description :

GS II

 

Topic à Constitutional & Non-Constitutional Bodies

 

• CAG's Background:

 

• In Chapter V of Part V of the Indian Constitution, the Comptroller and Auditor General of India (CAG) is established as an autonomous office.
• The CAG is specified in Articles 148–151 of the Indian Constitution.
• He is the Indian Audit and Accounts Department's head.
• He is the keeper of the public purse and oversees the country's whole financial system at both the national and state levels.
• In the field of financial administration, it is his responsibility to uphold the Indian Constitution and the rules of Parliament.

 

• Appointment and Term of Office:

 

• By a warrant under his hand and seal, the President of India appoints the CAG.
• He is in office for six years or until he reaches the age of 65, whichever comes first.

 

• Duties:

 

• CAG audits all expenditure accounts from the Consolidated Fund of India, as well as the Consolidated Funds of each state and UT with a legislative assembly.
• CAG audits all expenditures from India's Contingency Fund and Public Account, as well as each state's Contingency Fund and Public Account.
• All trading, manufacturing, profit and loss accounts, balance sheets, and other subsidiary accounts maintained by any department of the Central Government and state governments are audited by the CAG.
• When required by associated laws, the CAG audits the receipts and expenditures of all bodies and authorities significantly financed from Central or State income; government companies; and other corporations and bodies.
• He determines and certifies the net profits of any tax or duty, and his certification is final.
• He serves as a counsellor, companion, and philosopher to the Parliament's Public Accounts Committee.

 

 

 

• Reports:

 

• He presents his audit reports on the Centre's and State's accounts to the President and Governor, who then present them to both chambers of Parliament and the state legislature, respectively.
• He presents the President with three audit reports: one on appropriation accounts, one on finance accounts, and one on public undertakings.

 

• Source à The Hindu à 11/12/21 à Page Number 4

Tags : President, audit reports