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'No decision taken on making CAG multi-member body'


AGENCIES | New Delhi, December 7, 2012 16:51
Tags : CAG | Namo Narain Meena | V K Shunglu Committee | Public Accounts Committee |


The government on Friday said it has not taken any decision on making the official auditor Comptroller and Auditor General (CAG) a multi-member body.
"The Government has not taken any decision on the... suggestion (of making CAG a multi-member body)," Minister of State for Finance Namo Narain Meena said in a written reply to the Lok Sabha.
V K Shunglu Committee, which was set up to look into the alleged irregularities in the 2010 Commonwealth Games projects, had submitted six reports on the projects along with a separate letter to the PMO in which it recommended making CAG a three-member body.
The Committee had suggested that one member of the CAG should posses professional accounting qualifications - CA or transnational equivalent.
"This should not seem to exclude an IAAs officer from the triumvirate, who has wide exposure to Finance, Audit and Accounts and best international practices in these areas," the minister said while giving details of the Shunglu Committee's suggestion.
The Committee had also suggested that annual audit plan should be discussed by CAG with the Public Accounts Committee (PAC). The discussion should stop short of endorsement in the interest of audit autonomy, it added.
It had also suggested that the CAG accounts should be audited by a professional auditor appointed by the PAC and report of CAG should be provided to Standing Committees of various departments and there should be adequate opportunity to discuss issues, primarily their concerns.
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Issue Dated: Feb 5, 2017