- The Comptroller and Auditor General (CAG) is a constitutional authority established under Article 148 of the Indian Constitution.
- The CAG is responsible for auditing the accounts of the Union and State governments and public sector undertakings (PSUs).
- The CAG is considered the guardian of public finances in India.
- The CAG is appointed by the President of India for a term of 6 years or until the age of 65 years, whichever is earlier.
- The CAG can only be removed from office in a manner similar to a Supreme Court judge, ensuring its independence.
- The CAG audits all receipts and expenditures of the Union and State governments, including those of autonomous bodies and authorities.
- It is responsible for auditing transactions related to the Contingency Fund and Public Account of India.
- The CAG prepares and submits audit reports to the President or the Governor, which are then tabled in the respective legislatures.
- The CAG has the authority to audit the financial transactions of institutions funded by the government.
- The CAG’s reports play a crucial role in ensuring accountability in governance and administration.
- The CAG performs three types of audits: Financial audit, Compliance audit, and Performance audit.
- Financial audits verify the accuracy of financial statements.
- Compliance audits ensure that transactions adhere to relevant laws, rules, and regulations.
- Performance audits assess the efficiency and effectiveness of government schemes and programs.
- The CAG’s audits help in identifying instances of corruption and misuse of public funds.
- Its findings are crucial for the functioning of parliamentary committees like the Public Accounts Committee (PAC) and the Committee on Public Undertakings.
- The CAG is referred to as the “watchdog of public finance” in India.
- The office of the CAG ensures the proper utilization of funds allocated by the legislature.
- The CAG’s reports have led to several landmark decisions and reforms in India’s governance.
- The autonomy and independence of the CAG are vital for ensuring transparency and accountability.
- The CAG also audits accounts of companies where the government holds more than 51% stake.
- The institution is crucial for monitoring the implementation of policies and programs funded by the government.
- The CAG plays a significant role in fiscal management by highlighting instances of fiscal indiscipline.
- The CAG is assisted by a team of auditors and professionals, ensuring comprehensive audits.
- Its reports form the basis for parliamentary debates on financial matters.
- The Constitution prohibits the CAG from performing any executive duties, preserving its neutrality.
- The CAG is a critical component of India’s system of checks and balances.
- The institution’s recommendations are often used to improve governance and policy-making.
- The CAG audits defense accounts, including purchases and expenditures, ensuring transparency in sensitive areas.
- The CAG’s performance audits have highlighted inefficiencies in several government schemes.
- The Constitution ensures the CAG’s independence by charging its expenses to the Consolidated Fund of India.
- The CAG also audits the accounts of municipal corporations and panchayati raj institutions.
- The office plays a role in ensuring the proper implementation of financial devolution under the Finance Commission.
- The CAG’s work complements the efforts of anti-corruption bodies and investigative agencies.
- The CAG’s role is often compared to that of similar institutions in other countries, like the UK’s National Audit Office.
- The CAG has faced challenges in accessing certain records and ensuring compliance by audited entities.
- The institution emphasizes the importance of adopting modern technologies and practices in auditing.
- The CAG’s reports have often led to judicial interventions and public awareness on key issues.
- The office of the CAG is a cornerstone of India’s democratic framework.
- The institution is instrumental in ensuring that public funds are used efficiently and effectively.