New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    Comptroller and Auditor-General of India (CAG) is a

    Constitutional body under Article 148 of the Indian Constitution. Which of the following Statements is False about CAG?
    A The Comptroller and Auditor General is appointed by the President of India and can be removed from office only in the manner and on the grounds that a Judge of the Supreme Court is removed. Correct Answer Incorrect Answer
    B The expenses on the administration of this office of CAG including all allowances, salaries and pensions would be charged to the Consolidated Fund of India. Correct Answer Incorrect Answer
    C CAG can audit All receipts and expenditure from the Consolidated Fund of India and of the states and union territories. Correct Answer Incorrect Answer
    D It can also audit any Private Company as it deems fit. Correct Answer Incorrect Answer
    E The CAG is appointed for a period of 6 years or until attaining the age of 65 years whichever is earlier. Correct Answer Incorrect Answer

    Solution

    The powers of the CAG, regarding audits, are provided for in the Comptroller and Auditor General of India (Duties, Powers and Conditions of Service) Act, 1971. According to this act, the CAG can audit: · All receipts and expenditure from the Consolidated Fund of India and of the states and union territories. · All transactions relating to the Contingency Funds and Public Accounts. · All trading, manufacturing, profit and loss accounts and balance sheets and other subsidiary accounts kept in any department. · All stores and stock of all government offices or departments. · Accounts of all government companies set up under the Indian Companies Act, 1956. · Accounts of all central government corporations whose Acts provide for audit by the CAG. · Accounts of all authorities and bodies substantially funded from the Consolidated Fund. Accounts of any authority, even though not substantially funded by the government, at either the request of the Governor/President or at the CAG’s own initiative.

    Practice Next

    Relevant for Exams: