The nation celebrated its first audit day on 16 November
audit day It is celebrated to mark the historical origin of the institution. Comptroller and Auditor General of India (CAG) And the contribution it has made to governance, transparency and accountability over the years. Presently, the former Lieutenant Governor of the Union Territory of Jammu and Kashmir GC Murmu Serves as CAG of India. He is the 14th CAG of India. His tenure started in August 2020.
CAG is the constitutional authority in India. This . was established according to Article 148 Constitution of India. The CAG is empowered to audit all receipts and expenditure of the Central and State Governments. The CAG is the statutory auditor of government-owned corporations. It conducts supplementary audit of government companies where the government’s stake is 51 per cent.
The report of the CAG is placed before the Parliament or the Legislature. they are being taken up for discussion Public Accounts Committees (PACs) And Committees on Public Undertakings (COPUs). The PAC and the COPU are special committees in the Parliament and State Legislatures.
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