Recently, on 16 November, the first ‘Audit Day’ was celebrated in the CAG office premises. The day is being observed to mark the historic beginning of the Comptroller and Auditor General of India (CAG) institution and its contribution to governance, transparency and accountability over the years.
- A provision has been made for an independent office of the CAG of India in Chapter V under Part V of the Constitution of India.
- The ‘Comptroller and Auditor General’ is mentioned in the Constitution of India under Articles 148 – 151. He is the head of the Indian Audit and Accounts Department.
- He is the custodian of public finance and the controller of the entire financial system of the country. It is controlled at both the state and central level.
- Its duty is to maintain the financial administration under the Constitution of India and the statutes of the Parliament.
Appointment and tenure of constitutional post:
- The Comptroller and Auditor General of India is appointed by warrant under the signature and seal of the President.
- The term of the Comptroller and Auditor General is 6 years or till the age of 65 years, whichever is earlier.
- The Comptroller and Auditor General of India audits all expenditure accounts from the Consolidated Fund of India, the Consolidated Fund of each State and each Union Territory having a Legislative Assembly.
- He audits all expenditure from the Consolidated Fund of India and the Public Account of India including the Contingency Fund and Public Account of each State.
- He conducts the audit of all trading, manufacturing, profit and loss accounts, balance sheets and other ancillary accounts by any department of the Central Government and State Governments.
- He audits the receipts and expenditure of all bodies and authorities funded by the Center and each of the states, as well as audits of government companies, other corporations and bodies, if required by the relevant rules.
- He determines and certifies the net proceeds of any tax or duty and in such cases his certificate is final.
- The CAG acts as a guide, friend and philosopher to the Public Accounts Committee (PAC) of the Parliament.
- The Comptroller and Auditor General of India submits its accounts reports relating to the accounts of the Center and the States to the President and the Governor, which they cause to be laid before both the Houses of Parliament and the State Legislature respectively.
- The CAG presents three Accounts Reports to the President: Audit Report on Appropriation Accounts, Audit Report on Finance Accounts and Audit Report on Public Undertakings.
Source – The Hindu