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Superior Audit Institutions (ISAs) are public agencies responsible for auditing public finances and ensuring that public funds are used efficiently and transparently. In India, the Comptroller and Auditor General (CAG) is the primary agency that oversees the function.
They are crucial for maintaining the integrity of public finances and ensuring that funds allocated to public welfare and government programs are used efficiently. They are responsible for ensuring transparency and accountability in utilising public funds.
CAG ensures transparency and accountability by conducting detailed audits of government spending and reporting on whether allocated funds are spent reasonably. For example, CAG reports on schemes such as MNREGA highlight how resources are used to achieve the objectives. CAG reports guide the government in decision-making, resulting in better governance.
Audits conducted frequently and with integrity improve the efficiency of government projects. If public funds are used appropriately, people will benefit directly from projects such as good infrastructure, health services, and better education. Properly using funds strengthens public trust in the government, which is the core of democracy.
About the Asian Organisation of Supreme Audit Institution (ASOSAI)The 16th Assembly of ASOSAI was recently organised in New Delhi to enhance transparency, accountability, and good governance. The event brought top public auditors from across Asia on one platform, and more than 200 delegates from 42 countries and international organisations participated in this Assembly. In September 2024, the Comptroller and Auditor General (CAG) of India assumed the chairmanship of the Asian Organisation of Supreme Audit Institutions (ASOSAI) for 2024-2027. |
a) It was established under Article 148 of the Indian Constitution.
b) It audits and examines how the Union and State governments spend their funds.
c) It reviews autonomous bodies and companies financially supported by the government.
d) He ensures that all money entering and leaving the Consolidated Fund of India is appropriately audited.
e) He acts as the auditor for government-owned companies like the Life Insurance Corporation (LIC) or the Oil and Natural Gas Corporation (ONGC).
f) The President of India appoints him, and his salary is equal to that of a Supreme Court Judge.
g) He serves for a six-year term or until age 65, whichever comes first.
h) He is the external auditor for United Nations (UN) organisations, including the World Health Organization (WHO) and the Food and Agriculture Organization (FAO).
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COMPTROLLER AND AUDITOR GENERAL (CAG)
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PRACTICE QUESTION Q.Consider the following statements in the context of the Comptroller and Auditor General (CAG): 1. It is responsible for auditing the accounts of Union and State governments. 2. It presents its reports to the Parliament only. 3. Its reports are not legally binding on the government. How many of the above statements are correct? A) Only one B) Only two C) All three D) None Answer: B Explanation: Statement 1 is correct: CAG audits the accounts of both Union and State governments, including all departments and agencies funded by the government. Statement 2 is incorrect: The CAG's reports are submitted to the President in the case of the Union and to the Governor in the case of the State, who in turn table them before the House. Statement 3 is correct: The CAG reports are advisory. They identify abnormalities and inefficiencies; however, the government is not obligated to act on them. |
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