The Comptroller and Auditor General of India (CAG) has been appointed as external auditor of two major UN organisations, the Vienna-based International Atomic Energy Agency (IAEA) and the Geneva-based World Intellectual Property Organisation (WIPO).
It is for the first time that an audit institution from outside Europe has been appointed to these prestigious positions in these two organisations. The appointments were made in the face of competition from the audit bodies of developed countries like the United Kingdom, Spain and Norway The tenure of these audits could extend up to six years.
The CAG is on the panel of external auditors of the UN and its agencies and also on the Governing Board of the Asian Organisation of Supreme Audit Institutions (ASOSAI) and is poised to take over as its Chairman for three years from March, 2012.
The CAG of India has also been appointed in the past on the Board of Auditors of the United Nations and as external auditor to a number of other major UN agencies like Food and Agricultural Organisation (FAO), World Health Organisation (WHO), International Maritime Organisation (IMO) and Organisation for Prohibition of Chemical Weapons (OPCW).
Related Facts
The Comptroller and Auditor General (CAG) of India is an authority, established by the Constitution of India, who audits all receipts and expenditure of the Government of India and the state governments, including those of bodies and authorities substantially financed by the government.
The CAG is also the external auditor of government-owned companies. The reports of the CAG are taken into consideration by the Public Accounts Committees, which are special committees in the Parliament of India and the state legislatures. The CAG of India is also the head of the Indian Audits and Accounts Service.
Audit of government accounts (including the accounts of the state governments) in India is entrusted to the CAG of India who is empowered to audit all expenditure from the revenues of the union or state governments, whether incurred within India or outside. Specifically, audits include:
Transactions relating to debt, deposits, remittances, Trading, and manufacturing
Profit and loss accounts and balance sheets kept under the order of the President or Governors
Receipts and stock accounts.
Mr. Vinod Rai took over as the Comptroller & Auditor General of India on 7th January 2008.
