CAG plans its own AI for fast writing of Audit Reports
Posted Date : 26-Sep-2024 , 11:57:34 am | Posted By CASANSAAR
Comptroller and Auditor General of India G C Murmu on Wednesday said the supreme audit institution is in the process of developing its own Artificial Intelligence (AI) protocol for faster writing of its audit reports.
"For data analysis and various other things, we have our own system in pla...
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CAG of India signs MoU with U.A.E. Accountability Authority
Posted Date : 07-Sep-2024 , 08:22:54 am | Posted By CASANSAAR
The Comptroller and Auditor General of India (CAG) has signed a Memorandum of Understanding (MoU) with the Accountability Authority of the United Arab Emirates (UAE) during a bilateral meeting with its President in Abu Dhabi.
The objective of this MoU is to promote and develop cooperation between...
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CAG writes to finmin, seeks performance audit details of PSU banks recapitalisation
Posted Date : 04-Jan-2021 , 08:43:38 am | Posted By CASANSAAR
The Comptroller and Auditor General of India (CAG) has written to the finance ministry seeking details about the ongoing performance audit of government's massive recapitalisation excercise of public sector banks (PSBs).
CAG is doing performance audit on recapitalisation of PSBs after 2016-17...
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Former J&K Lt Guv Girish Chandra Murmu to be new CAG of India
Posted Date : 07-Aug-2020 , 10:26:10 am | Posted By CASANSAAR
Former Lieutenant Governor of Jammu and Kashmir, Girish Chandra Murmu will be the new Comptroller and Auditor General of the country. Mr Murmu will succeed Rajiv Mehrishi.
An IAS officer of Gujarat cadre, Mr Murmu resigned as Lieutenant Governor of Jammu and Kashmir on Wednesday. #casansaar (Sour...
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Selection of Auditors - Policy of Empanelment of CA Firms
Posted Date : 07-Feb-2020 , 10:00:01 am | Posted By CASANSAAR
Selection of Auditors - Policy of Empanelment of CA Firms explained by CA. Bhawna Dawar.
Watch this video.
https://youtu.be/bFze1O1CbsQ
...
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CAG flays tax authorities over error in assessment of income, taxes
Posted Date : 31-Jul-2019 , 09:51:53 am | Posted By CASANSAAR
The Comptroller and Auditor General of India (CAG) has rapped direct tax authorities for irregularities in assessments of personal income and corporation taxes over the years.
In a report on direct taxes for 2018-19 tabled in Parliament on Tuesday, the auditor suggested that the government consid...
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GST system prone to input tax credit frauds - CAG
Posted Date : 31-Jul-2019 , 09:40:31 am | Posted By CASANSAAR
The roll-out of GST has unified the multiple central and state taxes on goods and services to a great extent and made credit for input taxes available through the value chain, but hasn’t simplified the tax compliance regime while the experience so far has also been that of slowdown in tax reve...
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FinMin spent Rs 1,157 cr extra in 2017-18 without obtaining prior approval - CAG
Posted Date : 12-Feb-2019 , 08:15:05 pm | Posted By CASANSAAR
The Ministry of Finance spent Rs 1,157 crore on various heads during 2017-18 without obtaining prior approval of Parliament, the Comptroller and Auditor General (CAG) report tabled in Parliament on Tuesday said.
Excess expenditure aggregating Rs 1,156.80 crore was incurred during 2017-18 without ...
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CAG reports 65 of 74 Bihar state PSUs have arrears in accounts from 1977-78 onwards
Posted Date : 30-Jul-2018 , 08:47:18 am | Posted By CASANSAAR
Only 18 of 74 state PSUs in Bihar have finalised their accounts in the last three years and 65 of them have arrears in accounts from 1977-78 onwards, according to the CAG report of the year ended on March 31, 2017. The CAG report tabled in the state legislature has cautioned that delay in finalisati...
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CAG to audit the impact of demonetisation
Posted Date : 26-Mar-2017 , 06:21:43 pm | Posted By CASANSAAR
The Comptroller and Auditor General of India (CAG) plans to audit the impact of note ban and the affect it has had on government tax revenues, said CAG Shashi Kant Sharma.
In an interview to PTI, he said the auditor is gearing up to audit tax revenues under the new Goods and Services Tax (G...
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CAG wants provision in GST law to seek any info for Audit
Posted Date : 18-Jan-2017 , 08:58:46 am | Posted By CASANSAAR
As government prepares ground for roll-out of GST from July 1, CAG has demanded explicit provision in the law to empower the official auditor to call for any information for audit of Goods and Service Tax (GST) receipts and utilisation of their funds.
While the Comptroller and Auditor Gener...
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Archana Nigam appointed as Controller General of Accounts
Posted Date : 31-Dec-2016 , 08:34:28 am | Posted By CASANSAAR
Archana Nigam will take over as the next Controller General of Accounts in the Department of Expenditure under the Ministry of Finance on January 1, 2017.
An Officer of the 1981 batch of the Indian Civil Accounts Service, Nigam has worked in various capacities in a number of ministries in the las...
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CAG may Audit IDS, not individual declarations
Posted Date : 04-Oct-2016 , 08:21:40 am | Posted By CASANSAAR
The Comptroller and Auditor General of India (CAG) may audit the just ended black money disclosure scheme for the process followed and how well it performed, but will not get into the disclosures made.
As much as Rs 65,250 crore of undeclared assets were declared through 64,275 declarations...
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Political party accounts must be subjected to CAG scrutiny - HC
Posted Date : 31-Mar-2015 , 08:14:58 am | Posted By CASANSAAR
Accounts of major political parties must be audited by the Comptroller and Auditor General (CAG) himself and with the same stringent parameters with which he audits government accounts to curb the use of black money during election campaigns, the high court was urged on Thursday.
When the public ...
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Over 94% of outstanding tax hard to recover: CAG Report
Posted Date : 21-Mar-2015 , 08:27:29 am | Posted By CASANSAAR
Over 94 per cent of the country's uncollected tax demand of Rs 5.75 lakh crore is difficult to recover, the Comptroller and Auditor General of India has said. The CAG, in an audit report on direct taxes tabled in Parliament on Friday, also hauled up the Income Tax Settlement Commission and the i...
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Rs 2 lakh crore so far from coal auction, Rs 1 lakh crore from spectrum
Posted Date : 10-Mar-2015 , 08:00:54 am | Posted By CASANSAAR
The government on Monday said it has raised Rs 2 lakh crore through auction of mining rights and royalty from 30 blocks that have been bid out so far, breaching the Comptroller & Auditor General's estimated "notional loss" of Rs 1.86 lakh crore.
Excluding the royalty, the government...
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CAG finds lapses in Rs 52000 cr farm debt waiver scheme
Posted Date : 05-Mar-2013 , 05:50:03 pm | Posted By CASANSAAR
The government will have to explain allegations of malpractices in one of its flagship schemes to waive the debts of farmers across the country, a promise which helped power the coalition's victory in 2009 .
The government's auditor or CAG has said that the 52,000-crore scheme was mar...
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Jawahar Thakur is new Controller General of Accounts
Posted Date : 02-Jul-2012 , 08:24:16 am | Posted By CASANSAAR
Mr Jawahar Thakur has taken over as the new Controller General of Accounts (CGA).
A 1979-batch Indian Civil Accounts Service officer, Mr Thakur has played a key role in the area of developing an effective financial management information system, his latest initiative being the complete comp...
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CAG says media reports on coal block auction are misleading
Posted Date : 23-Mar-2012 , 08:06:56 am | Posted By CASANSAAR
The CAG has told the Prime Minister that the media reports on alleged coal scam published in a newspaper is exceedingly misleading. Quoting CAG, the daily claimed that the government has lost 10.7 lakh crore rupees by not auctioning coal blocks.Rejecting the claim, the CAG in a letter to Dr Manmohan...
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Government lost Rs 10.7 lakh crore by not auctioning coal blocks: CAG
Posted Date : 22-Mar-2012 , 10:52:33 am | Posted By CASANSAAR
The CAG is at it again. About 16 months after it rocked the UPA government with its explosive report on allocation of 2G spectrum and licences, the Comptroller & Auditor General's draft report titled 'Performance Audit Of Coal Block Allocations' says the government has extended "undue benefi...
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CAG can play vital role in dealing with economic crisis:Rai
Posted Date : 29-Feb-2012 , 06:55:18 pm | Posted By CASANSAAR
Auditors can play an important role in helping countries deal with economic crises by suggesting mid-course corrections, Comptroller and Auditor General (CAG) of India Vinod Rai said Wednesday."These are momentous times in the histories of many nations. New paradigms are evolving in the political sy...
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CAG's role in social sector audit vital: Pranab
Posted Date : 17-Nov-2011 , 08:19:01 am | Posted By CASANSAAR
Finance Minister Pranab Mukherjee on Wednesday maintained that even as every decision of the government was not likely to be the most optimal, the possibility of institutional failures, oversight and ignorance could impact the decision-making process.
In his address at a concluding function here ...
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CAG to audit all rural ministry schemes
Posted Date : 05-Nov-2011 , 08:40:46 am | Posted By CASANSAAR
The Comptroller and Auditor General (CAG) will now scrutinise all the schemes of Rural Development Ministry and Ministry of Drinking Water and Sanitation, Union Minister Jairam Ramesh said on Friday.
Announcing the decision, Mr. Ramesh said the two Ministries annually spend Rs 88,000 crore which ...
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Shunglu panel suggests changes in CAG, CVC
Posted Date : 30-Oct-2011 , 08:58:16 pm | Posted By CASANSAAR
Amidst a debate on controversies surrounding some of the CAG reports, the High Level Committee which went into the Commonwealth Games related projects, has suggested changes in the functioning and structure of top audit and vigilance bodies like the Comptroller and Auditor General making it a thre...
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CAG advises Oil Ministry of caution on RIL's KG-D6
Posted Date : 13-Oct-2011 , 08:33:31 am | Posted By CASANSAAR
The CAG has advised Oil Ministry to allow Reliance Industries to recover expenditure on its eastern offshore KG-D6 field only after it has been audited. Stating that the Comptroller and Auditor General's (CAG) letter to the ministry was to "flag the critical issues so as to facilitate adequat...
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Jairam Ramesh asks CAG to audit Rs 100k-cr allocation to rural schemes
Posted Date : 11-Oct-2011 , 08:37:17 am | Posted By CASANSAAR
Jairam Ramesh on Monday broke off from his CAG-bashing ministerial colleagues and asked the agency to audit the over Rs 1,00,000-crore annual allocation by his department to rural development schemes. In a letter to the CAG, Jairam Ramesh has sought the appointment of special accountant gene...
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CAG’s latest ambition: Let us audit the Padma Awards now
Posted Date : 04-Oct-2011 , 07:55:46 am | Posted By CASANSAAR
The home ministry has declined a request from the Comptroller and Auditor General (CAG) for documents and other material to enable it to carry out an audit of the Padma Awards. The ministry’s decision has the backing of India’s highest law officer, and the file has been cleared by Home...
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CAG seeks powers to audit Sebi, Trai
Posted Date : 12-Sep-2011 , 07:47:06 am | Posted By CASANSAAR
Government auditor CAG is seeking to widen the scope of its powers to audit the performance of regulators such as Sebi, Trai and Irda as part of the new legislation that will replace the CAG Act, 1971. The proposed CAG Bill, now under consideration of the finance ministry, i...
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CWG scam: CAG report to be tabled in parliament
Posted Date : 05-Aug-2011 , 11:51:12 am | Posted By CASANSAAR
The Comptroller and Auditor General's (CAG) report on irregularities in the October 2010 Commonwealth Games will be tabled in parliament on Friday, according to the business listed for the two houses. The report, which has already caused much uproar after being leaked to the media, is expected ...
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CAG to supervise audit of parties' accounts
Posted Date : 28-Jul-2011 , 07:18:15 am | Posted By CASANSAAR
India’s accounting watchdog the Comptroller and Auditor General has agreed to supervise the auditing of accounts of registered political parties and expenditure of candidates contesting in elections for legislative bodies. Each registered political party is required to submit annual financial ...
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