CAG Full Form: Introduction to CAG
CAG Full Form: The Comptroller and Auditor General of India (CAG) serves as the highest auditing authority for the Government of India. With constitutional status within the Indian Parliament, its purview encompasses auditing activities across Union (Central) Government, State Governments, Union Territories, and Local Governments. The appointment of the CAG is governed by Articles 148 to 151 of the Constitution, as amended by the 73rd Amendment.
Role and Functioning of CAG: CAG Full Form
The primary role of the CAG (CAG Full Form) mirrors that of a Supreme Court judge in India. It is tasked with preparing reports on behalf of the Parliament and the public to ensure transparency in government spending. This involves scrutinizing public accounts and offering recommendations for enhancing the efficiency of the public expenditure process. The CAG conducts audits by examining government accounts submitted to Parliament and other Indian bodies, verifying the accuracy of expenditures, and communicating its findings to key stakeholders such as the Finance Ministry and the Prime Minister’s office.
Leadership and Structure: CAG Full Form
The Head of the Department (HOD) of the Audit and Accounts Department holds a position equivalent to that of a judge of the Supreme Court of India. Additionally, the Chairman of the CAG, a senior officer, is appointed by the President of India from among non-IAS officers holding the rank of Secretary to the Government of India or Director General, Audit and Accounts. The Chairman is supported by the CAG Council. CAG Full Form
Membership Criteria: CAG Full Form
The CAG comprises five members, with a maximum of three members permitted from the same political party. Eligibility for membership requires a minimum of 20 years’ service at the level of Joint Secretary, along with an MSc in Financial Management degree and proficiency in Indian Accounting Standards. Additionally, candidates must possess a master’s degree in commerce/M.Com. (with first-class) and adhere to a mandatory age limit of 62 years. The possibility of chairmanship within the CAG is open to candidates following an interview and scrutiny process. CAG Full Form
Understanding CAG Membership and Role
CAG Membership: CAG Full Form
The Comptroller and Auditor General of India (CAG) comprises four members, including:
- Comptroller and Auditor General of India
- Additional Secretary, Department of Personnel & Training
- Chief Vigilance Commissioner
- Additional Secretary, Department of Economic Affairs
Role of the Comptroller and Auditor General of India:
Appointed directly by the President of India for a tenure of 5 years, the CAG (CAG Full Form) is the principal official responsible for conducting financial audits of government departments and organizations. Established on April 30, 1972, it operates under the Ministry of Corporate Affairs.
Annual Budget of CAG: CAG Full Form
The budget allocated for CAG audits stands at Rs 500 crore. As an autonomous body, the CAG is registered under the Companies Act of 1956.
Conclusion:
In summary, the CAG (CAG Full Form) plays a crucial role in conducting financial audits of government entities, ensuring transparency and accountability in public expenditure. This brief overview provides insight into the structure and functions of the CAG, contributing to a better understanding of its significance in governance.
FAQs about CAG Full Form
What is the full form of CAG?
CAG stands for Comptroller and Auditor General of India, which serves as the supreme auditing authority for the Government of India.
How is the CAG appointed?
The CAG is appointed by the President of India under Articles 148 to 151 of the Constitution, as amended by the 73rd Amendment.
What is the role of the CAG?
The primary role of the CAG is to conduct audits of government departments and organizations, ensuring transparency and accountability in public expenditure. It prepares reports on behalf of the Parliament and the public, scrutinizing public accounts and offering recommendations for improvement.
Who comprises the membership of the CAG?
The CAG comprises four members, including the Comptroller and Auditor General of India, Additional Secretary from the Department of Personnel & Training, Chief Vigilance Commissioner, and Additional Secretary from the Department of Economic Affairs.
What are the eligibility criteria for becoming a member of the CAG?
Eligibility for membership requires a minimum of 20 years’ service at the Joint Secretary level, along with an MSc in Financial Management degree and proficiency in Indian Accounting Standards. Candidates must also possess a Master’s degree in Commerce/M.Com. (with first-class) and adhere to a mandatory age limit of 62 years.