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It was given statutory recognition by the Government of India Act, 1919, and further strengthened by the Government of India Act, 1935. [8]: 51 After India gained independence and the Constitution came into force, the Auditor General was re-designated as the Comptroller & Auditor General of India. In 1971, the CAG's (Duties, Powers and ...
Audit of government accounts (including the accounts of the state governments) in India is entrusted to the CAG of India who is empowered to audit all expenditure from the Consolidated Fund of the union or state governments, whether incurred within India or outside, all revenue into the Consolidated Funds and all transactions relating to the ...
Comptroller and Auditor General (CAG) of India— a body which audits the receipts and expenditures of the central and state governments, and bodies funded by them—observed in its 2010 report that participation of various constituents in a MP’s constituency such as residence forum or local NGOs were ignored to understand local needs.
The CAG is also the external auditor of Government-owned corporations and conducts supplementary audit of government companies, i.e., any non-banking/ non-insurance company in which Union Government has an equity share of at least 51 per cent or subsidiary companies of existing government companies. The reports of the CAG are taken into ...
The department acts as a facilitator, in consultation with central ministries/departments, states/UT administrations, organisations and individuals, to improve government functioning through administrative reforms in the spheres of restructuring the government, process improvement, organisation and methods and grievance handling, and by ...
The Public Accounts Committee (PAC) is a committee of selected members of parliament, constituted by the Parliament of India, for the purpose of auditing the revenue and the expenditure of the Government of India. They check that parliament exercises over the executive stems from the basic principle that parliament embodies the will of the people.
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SOC: in 2011, in conjunction with the release of SSAE 16, the AICPA replaced the service auditor’s examination report prescribed by SAS 70 with the System and Organization Controls (SOC) suite of reports. [11] [15] [16] Trust Services Criteria: In 2014, the AICPA Assurance Services Executive Committee (ASEC) published new guidance, Trust ...