CAG stands for Comptroller and Auditor General of India. Presently the CAG is Mr. Vinod Rai. He has been acting as a CAG since 2008. He is the 11^th CAG of India.

The CAG is an authority which is established by the Constitution of India.

Appointment

The CAG is appointed by the President of India on recommendation from the Prime Minister of India. He shall hold office for a term of 6 years or upto the age of 65 years, whichever is less.

On being appointed as CAG, he takes the oath of affirmation before the President of India.

Role

The CAG is also the head of the Indian Audit and Accounts Department. He also acts as the External auditor of the Government owned companies.

Audit

The CAG audits all the receipts and expenditures (both incurred within India or outside India) of the Government of India, the State Governments and the bodies and authorities those are substantially financed by the Government.

Government expenditure audit

It includes the following aspects :-

• Audit of sanction – This is to ensure that there has been a proper sanction by the competent authority.
• Audit of Performance – This is to ensure that the varied programmes , projects and schemes, in which huge amount of expenditure or investment is done, is being performed economically and is expected to give the best results.
• Audit of Propriety – This is to ensure that the expenditure was incurred with due regard to the principles of financial propriety.
• Audit against rules and regulations – This is to ensure that the expenditure incurred is in accordance with the applicable rules, regulations and law as framed by the competent authority.
• Audit against provision of funds – This is to ensure that there is proper consideration for the creation of provision of funds from which the expenditure can be incurred, as authorized by the competent authority.

Government revenue audit

It include the following aspects :-

• Assessment of revenues.
• Procedure of collection of revenues.
• Implementation.
• Monitor over irregularities and frauds.
• Reviews and suggestions.

Audit Report

The Audit report of CAG is considered by the  Public Accounts Committee, which is the special committee in the parliament of India and the state legislatures.

Removal from office

The CAG cannot be removed from the office other than through a procedure of impeachment or proven misbehavior or incapacity.

Audit Advisory Board

The Audit Advisory Board exists whose function is to advise the CAG in matters regarding the audits and also suggest CAG, the improvements it can have in its performance. The members of the Board function in an honorary capacity.

Remuneration

The salary of CAG is equivalent to the salary of a Supreme Court Judge.

Powers

The CAG shall have power as prescribed under the CAG Act, 1971.

Following are the names of CAG and their tenure of office as CAG:-