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Articles 148 – 151 of the Constitution of India deal with the institution of the CAG of India. The CAG is ranked 9th and enjoys the same status as a sitting judge of Supreme Court of India in order of precedence. K. Sanjay Murthy is the current CAG of India. [6] [7] He assumed office on 21 November 2024, and is the 15th CAG of India.
The guidelines are being drafted after consulting RBI, Ministry of corporate affairs, the comptroller and auditor general of India, and the Securities and Exchange Board of India. It is planned that Forensic Accounting and Investigation Standards will have 30 standards covering all the aspects.
The Comptroller and Auditor General (CAG) of India is an authority, established by the Constitution under Constitution of India/Part V Chapter V/Sub-part 7B/Article 148, who audits all receipts and expenditure of the Government of India and the state governments, including those of bodies and authorities substantially financed by the government.
Indian Audit and Accounts Service; Service overview: IAAS logo: Formed: 1860; 165 years ago () Headquarters: Pocket-9, Deen Dayal Upadhyaya Marg, New Delhi - 110124: Country India: Training: National Academy of Audit & Accounts, Yarrows, Shimla [1] [2] Controlling Authority: Comptroller and Auditor General of India: Legal personality ...
Level 4: Auditing Guidelines: ISSAI 1000-1810: Financial Audit Guidelines: Financial_Audit_Guidelines_E.pdf: ISSAI 3000-3100: Performance Audit Guidelines: ISSAI 4000-4200: Compliance Audit Guidelines: ISSAI 5000-5010: Guidelines on auditing International Institutions: ISSAI 5100-5140: Guidelines on Environmental Audit: ISSAI 5200-5240 ...
While fulfilling his constitutional obligations, the CAG examines various aspects of government expenditure and revenues. The audit conducted by CAG is broadly classified into Financial, Compliance and Performance Audit. Environmental audit by SAI India is conducted within the broad framework of compliance and performance audit.
The second performance audit by the Comptroller and Auditor General (CAG) of India covered 3,848 gram panchayats (GPs) in 28 states and 4 union territories (UTs) from April 2007 to March 2012. [76] This comprehensive survey by the CAG documents lapses in implementation of the act. [77] [78]
National Financial Reporting Authority (NFRA) is the auditing and accounting supervision authority of India. The authority oversees the auditing profession and the Indian Accounting Standards under the Companies Act 2013. [1] It was formed in October 2018. The chairperson since March 2022 is Ajay Bhushan Pandey. [2]