The Comptroller and Auditor General of India (CAG) conducts the audit of the Finance and Appropriation accounts prepared by the Controller General of Accounts (CGA) under the Ministry of Finance. Let's understand the roles and responsibilities of these entities in detail:

1. Controller General of Accounts (CGA):
The CGA is the principal accounting advisor to the Government of India. It is responsible for the maintenance of the central government's accounts, preparation of the Union Government Finance and Appropriation accounts, and the compilation of monthly and annual accounts.

2. Comptroller and Auditor General of India (CAG):
The CAG is an independent constitutional authority responsible for auditing the accounts of the central and state governments. It ensures the proper use of public funds, evaluates the efficiency and effectiveness of government programs, and promotes transparency and accountability in financial operations. The CAG operates under the authority of the Constitution of India and is appointed by the President.

Key Points:

- The CAG conducts audits of the Finance and Appropriation accounts prepared by the CGA to ensure the accuracy, completeness, and compliance with financial rules and regulations. This audit is known as a statutory audit.
- The CAG's audit covers various aspects, including the reliability of financial statements, compliance with laws and regulations, effectiveness of internal controls, and the economy, efficiency, and effectiveness of government operations.
- The audit conducted by the CAG provides an independent assessment of the government's financial performance and helps in identifying areas of improvement, detecting financial irregularities or fraud, and suggesting measures for better financial management.
- The CAG submits audit reports to the President or the Governor of a state, who then presents them to the Parliament or the State Legislature, respectively. These reports are discussed and examined by the Public Accounts Committees (PAC) of the Parliament and State Legislatures.
- The PAC scrutinizes the audit findings and recommendations made by the CAG and holds the government accountable for its financial decisions and actions.

In conclusion, the Comptroller and Auditor General of India (CAG) conducts the audit of the Finance and Appropriation accounts prepared by the Controller General of Accounts (CGA) to ensure transparency, accountability, and proper utilization of public funds.