CAG Full Form: Comptroller and Auditor General of India.
The CAG is a government official that is responsible for auditing all expenditures of the Central and State governments, as well as governmental agencies that are sponsored by the Indian government, as per Article 1488 of the Indian Constitution.
CAG also audits government-owned corporations with a 51 percent equity stake or subsidiaries of existing government corporations.
On September 25, 2017, Rajiv Mehrishi was sworn in as India’s 13th Comptroller and Auditor General.
What is the CAG full form?
CAG full form Comptroller and Auditor General The CAG is appointed for six years or until he or she reaches the age of 65, whichever comes first.
The CAG was appointed by the President of India at the suggestion of the Indian Prime Minister. The CAG office is located in the Indian government’s headquarters in New Delhi.
CAG has the following authorities and responsibilities
The CAG has the same rights and benefits as a Supreme Court of India Judge. The CAG is now ranked 9th in India’s order of precedence.
The CAG also refers to the Indian Audit and Accounts Department’s chief. The CAG’s reports are presented during the sessions of Parliament or the Legislature. The Public Accounts Committees and the Committees on Public Undertakings take them into account.
The CAG has the authority to nominate and reappoint the auditor of a government firm, to instruct the auditors under him, to direct and perform test audits of government company accounts, and to supplement the statutory auditors’ audit report.
Let’s take a look at the CAG responsibilities in the following lines:
- The CAG is responsible for auditing the Consolidated Fund of India’s receipts and expenditures, as well as those of the States and Union Territories with legislative assemblies.
- He conducts audits of government-owned businesses.
- The CAG is in charge of auditing the Contingency Fund’s expenditures as well as the Center’s and States’ public accounts.
- The CAG has the authority to audit trades, manufacturing, profit, loss, balance sheets, and other subsidiary accounts, as well as the government’s stock accounts.
- The CAG has the authority to audit any government loans or grants made to authorities.
- Following the audits, the CAG has the authority to submit the center’s audit report to the President and the state’s audit report to the governors of the individual states.
The Loss of Power
While we’re discussing what CAG stands for, you should also be aware of when the CAG can be ousted from his position.
The CAG can be ejected from his position based on proven incompetence and misbehavior if and only if both chambers of Parliament pass the order of removal. Impeachment is the name for the procedure.
According to other stories, the CAG departs his position at the end of his term.
FAQ (Frequently Asked Questions)
Q: What exactly is CAG?
Ans: The full form of cag is Comptroller and Auditor General of India, and he is in charge of auditing the central and state governments’ expenditures.
On the recommendation of the Indian Prime Minister, the Indian President appoints the CAG. The CAG is dismissed from his position either by a vote of both houses of Parliament or at the end of his term.
Q: Who is India’s current Chief Accountant General?
The current Comptroller and Auditor General of India are Rajiv Mehrishi.
Q: Who was India’s first Chief Accountant General?
V. Narahari Rao was India’s first Chief Accountant General.