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What is the role of the Comptroller and Auditor General of India (CAG) in relation to the audit of public corporations?
- a)CAG conducts a comprehensive audit of all public corporations.
- b)CAG appoints private auditors for public corporations.
- c)CAG does not have a role in auditing public corporations.
- d)CAG conducts supplementary audits of public corporations.
Correct answer is option 'D'. Can you explain this answer?
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What is the role of the Comptroller and Auditor General of India (CAG)...
The role of the Comptroller and Auditor General of India (CAG) in relation to the audit of public corporations includes conducting supplementary audits or test audits when necessary. Some public corporations are audited by private auditors appointed by the government.
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What is the role of the Comptroller and Auditor General of India (CAG)...
Role of the Comptroller and Auditor General of India (CAG) in relation to the audit of public corporations:
Supplementary audits:
- The CAG plays a crucial role in the audit of public corporations by conducting supplementary audits.
- These audits are carried out to ensure that the financial statements and accounts of public corporations are accurate and reliable.
Scope of supplementary audits:
- The CAG conducts these supplementary audits to verify the financial transactions of public corporations.
- These audits help in detecting any potential mismanagement, fraud, or irregularities in the financial operations of these entities.
Ensuring transparency and accountability:
- By conducting supplementary audits of public corporations, the CAG helps in ensuring transparency and accountability in the financial affairs of these entities.
- This oversight is essential to maintain public trust and confidence in the functioning of public corporations.
Reporting findings:
- After completing the supplementary audits, the CAG prepares detailed reports highlighting any discrepancies or irregularities found during the audit process.
- These reports are submitted to the concerned authorities for appropriate action.
Role in improving governance:
- Through its audit activities, the CAG plays a pivotal role in improving governance in public corporations.
- By identifying areas of improvement and suggesting corrective measures, the CAG contributes to enhancing the efficiency and effectiveness of these entities.
In conclusion, the CAG's role in conducting supplementary audits of public corporations is vital in ensuring financial accountability, transparency, and good governance.
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What is the role of the Comptroller and Auditor General of India (CAG) in relation to the audit of public corporations?a)CAG conducts a comprehensive audit of all public corporations.b)CAG appoints private auditors for public corporations.c)CAG does not have a role in auditing public corporations.d)CAG conducts supplementary audits of public corporations.Correct answer is option 'D'. Can you explain this answer?
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What is the role of the Comptroller and Auditor General of India (CAG) in relation to the audit of public corporations?a)CAG conducts a comprehensive audit of all public corporations.b)CAG appoints private auditors for public corporations.c)CAG does not have a role in auditing public corporations.d)CAG conducts supplementary audits of public corporations.Correct answer is option 'D'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What is the role of the Comptroller and Auditor General of India (CAG) in relation to the audit of public corporations?a)CAG conducts a comprehensive audit of all public corporations.b)CAG appoints private auditors for public corporations.c)CAG does not have a role in auditing public corporations.d)CAG conducts supplementary audits of public corporations.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the role of the Comptroller and Auditor General of India (CAG) in relation to the audit of public corporations?a)CAG conducts a comprehensive audit of all public corporations.b)CAG appoints private auditors for public corporations.c)CAG does not have a role in auditing public corporations.d)CAG conducts supplementary audits of public corporations.Correct answer is option 'D'. Can you explain this answer?.
What is the role of the Comptroller and Auditor General of India (CAG) in relation to the audit of public corporations?a)CAG conducts a comprehensive audit of all public corporations.b)CAG appoints private auditors for public corporations.c)CAG does not have a role in auditing public corporations.d)CAG conducts supplementary audits of public corporations.Correct answer is option 'D'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What is the role of the Comptroller and Auditor General of India (CAG) in relation to the audit of public corporations?a)CAG conducts a comprehensive audit of all public corporations.b)CAG appoints private auditors for public corporations.c)CAG does not have a role in auditing public corporations.d)CAG conducts supplementary audits of public corporations.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the role of the Comptroller and Auditor General of India (CAG) in relation to the audit of public corporations?a)CAG conducts a comprehensive audit of all public corporations.b)CAG appoints private auditors for public corporations.c)CAG does not have a role in auditing public corporations.d)CAG conducts supplementary audits of public corporations.Correct answer is option 'D'. Can you explain this answer?.
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