Strengthening Audits: CAG's Strategic Engagement with CA Firms
Anand Mohan Bajaj, Deputy Comptroller and Auditor General (Commercial), announced the incorporation of Chartered Accountant (CA) firms for auditing central autonomous bodies to enhance auditing processes. Despite concerns from CPM's S Venkatesan over potential impacts on independence, Bajaj assured that CAG will maintain overall audit leadership, integrating CA firms to bolster capacity.
- Country:
- India
On Thursday, Deputy Comptroller and Auditor General (Commercial) Anand Mohan Bajaj highlighted plans to enlist Chartered Accountant (CA) firms to audit central autonomous bodies, aiming to fortify the auditing process. The CAG office is gearing to appoint CA firms in 30 locations, finalizing the list within two weeks for collaboration with the CAG team.
Bajaj addressed criticism from Madurai MP S Venkatesan, who objected by writing to President Droupadi Murmu, citing fears of compromising CAG's independence. Bajaj emphasized that integrating CA firms will not outsource the work but rather augment the existing CAG-led teams, retaining accountability and confidentiality.
The new strategy responds to heightened audit demands, exemplified by AIIMS's growing budget, stressing that CA firms will support audits without replacing CAG officers. Bajaj clarified that participating firms will be part of audit teams, upholding CAG's stringent empanelment standards to ensure professional integrity in audits of significant national entities.
(With inputs from agencies.)
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