CAG among most prestigious audit institutions in the world: LS Speaker
Nov 17, 2022
New Delhi [India], November 17 : Lok Sabha Speaker Om Birla on Thursday lavished praise on the Comptroller & Auditor General of India (CAG), saying it was among the most effective and prestigious audit institutions in the world.
Addressing the valedictory session of the 'Audit Day and Auditors' Conference' in New Delhi on Thursday, the Speaker said he is happy that CAG reports are discussed in the Lower House, going beyond party lines, and decisions are taken in the interest of the nation.
He added that discussions and positive suggestions on CAG reports within the House and parliamentary committees strengthen the nation's democracy.
On the role of the CAG, Birla said the Constitution has given it a comprehensive and dynamic role and has ensured that its allegiance is only to the Constitution and the nation.
Birla said CAG is the world's leading audit body because of its best practices and is known worldwide for presenting independent, reliable, balanced and timely reports related to public finance and governance.
He noted that the CAG assures all stakeholders that government funds are being used efficiently and for the intended purposes only.
Regarding the increasing role of CAG in the changing political scenario, Birla said the importance of CAG reports and the relevance of audits have increased in the country. He added that the CAG has an outsider viewpoint while assessing the working of the government, which leads to financial savings and efficient planning.
Describing transparency and accountability of governance as the cornerstone of parliamentary democracy, Birla said effective and efficient use of public money is the aim of both the Parliament and the government.
The Lok Sabha Speaker also highlighted the role of CAG in ensuring the fiscal discipline of states.
Birla said in the era of the digital economy, strong digital infrastructure and digital financial records are going to make the role of CAG even more challenging.
He added that in order to meet these challenges, it is necessary to have skills and training as well as knowledge of the latest technology.
Birla said he was confident that the CAG was adopting innovations in the field of auditing as per the needs of the country, which will make it more empowered and productive.
The Comptroller and Auditor General of India, Girish Chandra Murmu, delivered the welcome address at the event.
