President Ram Nath Kovind inaugurates 29th Accountants General conference
The 29th Accountants General conference was inaugurated by President Ram Nath Kovind in New Delhi on October 10. The conference will involve deliberations on adopting most modern audit techniques to further improve audit effectiveness and enhance accountability in public spending.
The 29th Accountants General conference was inaugurated by President Ram Nath Kovind in New Delhi on October 10, 2018. The two-day conference is being organised by the Comptroller and Auditor General of India.
The meet will be held at the new building of CAG located at Deen Dayal Upadhyay Marg. It will be attended by Accountants General from all over the country.
• The conference will involve deliberations on adopting most modern audit techniques to further improve audit effectiveness and enhance accountability in public spending.
• Besides CAG of India Rajiv Mehrishi, Lok Sabha Speaker Sumitra Mahajan and Public Accounts Committee (PAC) Chairman Mallikarjun Kharge will take part in the deliberations.
• Finance Minister Arun Jaitley will address the officers on the second day of the conference.
• Mainly, the conference will comprise four brainstorming sessions on Audit Planning, audit execution and accounting in a digital environment, among others.
• The Comptroller and Auditor General is an authority established by Article 148 of the Indian Constitution.
• The constitutional body is mandated to keep a watch on the system of governance in the country to ensure the best use to taxpayer's money.
• It audits all receipts and expenditure of the Union Government and the state governments, including those of bodies and authorities substantially financed by the government.
• The CAG is also the external auditor of Government-owned corporations and conducts the supplementary audit of government companies including 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 consideration by the Public Accounts Committees (PACs) and Committees on Public Undertakings (COPUs), which are special committees in the Parliament of India and the state legislatures.
• The CAG is also the head of the Indian Audit and Accounts Department, which is managed by the officers of Indian Audit and Accounts Service and has over 58,000 employees across the country.
• The Comptroller and Auditor General of India enjoys the same status as a judge of the Supreme Court of India. The current CAG of India is Rajiv Mehrishi, who assumed office as the 13th CAG on September 25 2017.
Video: Check out the latest current affairs of this week