Audit Diwas is celebrated to mark the historic origin of the institution of Comptroller and Auditor General of India (CAG) and the contribution it has made to the governance, transparency and accountability over the past several years. Currently, former Lt. Governor of UT of Jammu Kashmir G. C. Murmu is serving as CAG of India. He is the 14th CAG of India. His tenure started in August 2020.
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About the CAG:
CAG is the Constitutional Authority in India. It was established in accordance with Article 148 of the Constitution of India. CAG is empowered to Audit all receipts and expenditures of the central as well as state governments. The CAG is the statutory auditor of Government-owned corporations. It conducts supplementary audits of government companies, where the Government is having an equity share of 51 per cent.
Reports of CAG:
Reports of the CAG are laid before Parliament or Legislatures. They are being taken up for discussion by Public Accounts Committees (PACs) and Committees on Public Undertakings (COPUs). PACs and COPUs are special committees in the Parliament and state legislatures.