Full Form of CAG | CAG Full Form | What is CAG | About CAG
Full Form of CAG is Comptroller and Auditor General of India: CAG stands for Comptroller and Auditor General of India. it’s an authority that is established underneath Article 148 of the constitution of India. Its primary role is to audit all the expenditure of central government, government, and organizations that are financed by the govt. Its headquarters is in New Delhi, India. CAG is ranked ninth in Indian order of precedence and has the same status as a judge of Supreme Court of India. CAG is also the head of the Indian Audit and Accounts Department. it’s one among the foremost powerful bodies to investigate financial frauds in India like mine allocation scam and 2G spectrum allocation scam.
CAG is appointed by the president of India on the recommendation of Prime Minister of India for a term of six years. As of 2016, Shashi Kant Sharma is the CAG of India. He was appointed on twenty-three may 2013, and he’s the twelfth CAG of India.
The Comptroller and Auditor General (C&AG) of India is an authority, established by the Constitution under Constitution of India/Part V – Chapter V/Sub-part 7B/Article 148, which audits all receipts and expenditure of the Government of India and the state governments, including those of bodies and authorities substantially financed by the government. The CAG is also the external auditorof Government-owned corporations and conducts supplementary audit of government companies, i.e., 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.