Know It!! posted by Varun Sasidharan

This is something you all need to read about, especilally in these days of scams..
THE COMPTROLLER AND AUDITOR GENERAL OF INDIA.




The Comptroller and Auditor General (CAG) of India (Hindi: भारत के नियंत्रक-महालेखापरीक्षक) is an authority, established by the Constitution of India, who 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 auditor of government-owned companies. The reports of the CAG are taken into consideration by the Public Accounts Committees, which are special committees in the Parliament of India and the state legislatures . The CAG of India is also the head of the Indian Audits and Accounts Service, which has over 58,000 employees across the country.
The current CAG of India is Vinod Rai, who was appointed on 7 January 2008. He is the 11th CAG of India.
Indian Audits and Accounts Service

Main article: Indian Audits and Accounts Service

The Constitution of India [Art.148] provides for an independent office of the CAG of India. He is the head of Indian Audit and Accounts Departments. His duty is to uphold the constitution of India and laws of Parliament in the field of financial administration. CAG is appointed by President of India by a warrant under his hand and seal.

 Scope of audits

Audit of government accounts (including the accounts of the state governments) in India is entrusted to the CAG of India who is empowered to audit all expenditure from the revenues of the union or state governments, whether incurred within India or outside. Specifically, audits include:

• Transactions relating to debt, deposits, remittances, Trading, and manufacturing
• Profit and loss accounts and balance sheets kept under the order of the President or Governors
• Receipts and stock accounts.

No.	Comptroller and Auditor General of India	Year tenure began	Year tenure ended
1	V. Narahari Rao	1948	1954
2	A. K. Chanda	1954	1960
3	A. K. Roy	1960	1966
4	S. Ranganathan	1966	1972
5	A. Bakshi	1972	1978
6	Gian Prakash	1978	1984
7	T. N. Chaturvedi	1984	1990
8	C. G. Somiah	1990	1996
9	V. K. Shunglu	1996	2002
10	V. N. Kaul	2002	2008
11	Vinod Rai	2008	present