November 19, 2021 - 6:46 am

A Heritage To Cherish 

Underlining the importance of audits for good governance, 'Audit Diwas' is being celebrated to mark the historic origin of the institution of Comptroller and Auditor General (CAG) and the contribution it has made to the governance, transparency and accountability over the past several years. The PM unveiled the statue of Sardar Vallabhbhai Patel celebrating the first Audit Diwas organised by the CAG.

                                 The CAG was established under article 148 of the constitution to audit expenditures of the Central as well as state governments. It is the statutory auditor and also conducts a supplementary audit of companies in which the government has an equity share of 51%. The CAG is ranked ninth in the order of precedence and enjoy the same status as a Supreme Court judge. On November, 16 1860, that the first Auditor General took charge in accordance with the provisions of the Government of India Act 1858, by merging the accounting departments of the Bengal, Madras and Bombay presidencies.

                                 The PM appreciated the work of the CAG and addressed by stating that there are very few institutions that become stronger, more mature and more relevant with the passage of time. But CAG is a heritage and every generation should cherish it. It is a huge responsibility. Adding to it he said that there was a time when it was seen with suspicion and fear. CAG vs Government became the common mindset of our system. Sometimes officials used to think that CAG sees faults in everything. But today, the mindset has been changed. Today, audit is considered an important part of value addition.

                                 The CAG has been expediting the change modernizing the process with analytics tools, geo-spatial data and satellite imagery. Audit Diwas seeks to highlight the rich contribution of CAG to boost transparency and good governance. Through the continuous quest for excellence in public audit and accounts, the CAG contributes to good governance.