What do you mean by CAG Audit ? Which organizations are subject to CAG Audit in India ?

CS Executive · Company Accounts & Auditing Practices · PYQS · June 2019
What do you mean by CAG Audit ? Which organizations are subject to CAG Audit in India ?

Answer & Explanation:

CAG Audit is known as audit of public enterprises is done by Comptroller and Auditor General of India. In India, government audit is performed by an independent constitutional authority, i.e. Comptroller and Auditor General of India (C&AG), through the Indian Audit and Accounts Department. The organisations subject to the audit of the Comptroller and Auditor General of India are: All the Union and State Government departments and offices including the Indian Railways and Posts and Telecommunications. Public commercial enterprises controlled by the Union and State governments, i.e. government companies and corporations. Non-commercial autonomous bodies and authorities owned or controlled by the Union or the States. Authorities and bodies substantially financed from Union or State revenues.

Topics: Government Audit

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