The Comptroller and Auditor General (CAG) plans to engage experts from selected chartered accountancy (CA) firms to conduct audits of approximately 350 Central autonomous bodies starting this year.
“Given the limited technical resources at our disposal compared to the extensive audit requirements in this sector, we have decided to proceed with this approach. Chartered accountants will work alongside a field officer from the Indian Audit and Accounts Department of the CAG. However, the overall responsibility of the audit will remain with the CAG,” stated an official. Around 30 sites have been identified for the assignment of these empanelled experts.
This initiative aims to allocate resources more effectively, allowing for enhanced compliance and performance audits throughout the nation.
In light of India’s rapid economic advancements, the CAG is also focusing on capacity building. “As India progresses towards becoming a developed nation, it is essential to manage public expenditure efficiently and maintain strong fiscal oversight. The complexity of systems delivering services to the public has evolved over time. The scope of auditable entities under the CAG has also expanded,” the official added.
The entities involved include over 700 Central public sector enterprises, 1,600 State public sector enterprises, 485 Central autonomous bodies, more than 700 State autonomous bodies, panchayati raj institutions, urban local bodies, parastatals, and special purpose vehicles.
“We are undertaking a comprehensive initiative to enhance professional competencies within the audit cadre, providing immersive experiences in public policy analytics, strategic finance, and digital governance at leading educational institutions in India. This training will encompass areas such as AI, big data analytics, cybersecurity, communication, and ethics,” the official mentioned, noting that the CAG has entered into eight Memoranda of Understanding with knowledge partners, including IIT-Madras and IIM-Ahmedabad, as well as the Bhaskaracharya National Institute for Space Applications and Geo-Informatics and the National Institute of Urban Affairs.