whAT is the main function of the Auditor General?
The Auditor-General checks the spending of public funds & resources by looking at whether these were used for the intended purposes with regard to economy, efficiency and effectiveness. The Auditor-General checks all government spending every year. This checking process is called audit.
whAT is meant by Comptroller and Auditor General?
The CAG is also the statutory auditor of Government-owned corporations and conducts supplementary audit of government companies in which the Government has an equity share of at least 51 per cent or subsidiary companies of existing government companies.
Who appoints Auditor General?
The President
(2) The President shall, on the recommendation of the Constitutional Council, appoint the Auditor General.
What is the difference between Accountant General and Auditor General?
So the two functions are different: the Accountant-General maintains the accounting records, prepares financial statements; but the Auditor-General gives assurance.
WHO removes CAG?
the President
The Comptroller Auditor General of India can be removed by the President only in accordance with the procedure mentioned in the Constitution. Thus, he does not hold his office till the pleasure of the President, though he is appointed by him.
Who is final auditor of company?
Ans : The provision of Office of Auditor General has been made in section 12 of the Interim Constitution of Nepal 2063. It is responsible for final auditing of all the government offices and corporations having full investment of government.
Is auditor and CA same?
Generally speaking, an accountant is involved in preparing financial statements and reports, and sometimes gives financial advice or makes financial recommendations, while an auditor reviews the financial records to make sure that there are no irregularities or discrepancies, and that the financial records have been …
Who appoints CAG?
Article 148 – Comptroller and Auditor-General of India There shall be a Comptroller and Auditor-General of India who shall be appointed by the President by warrant under his hand and seal and shall only be removed from office in like manner and on like grounds as a Judge of the Supreme Court.
Who can become CAG?
The CAG recruitment is being carried out to fill 10811 vacancies. To apply for these vacancies, candidates need a Bachelor’s degree from a recognized university. Selected candidates will receive a salary of Level- 5 (Rs. 29200-92300).
What is budget sheet?
Budget Sheet. A budget sheet is the statement of the annual appropriation of the budget, budget release and budget expenditures of operating level offices. It is one of the main documents, which is prepared by all operating level offices to record and report budget release and budget expenditures.
Can CA join CAG?
16 August 2011 go for SSC(staff selection commission) exam called combined graduate level exam(CGL) but it has nothing to do with a CA as any commerce graduate can become a CAG auditor after successfully cleraing the above exam of CGL tier -1 and tier-2 and then gd and interview but with that you also dont get handsome …
Who is Advocate General of India?
Hence, they must have been a judge of some high court for five years or an advocate of some high court for ten years, or an eminent jurist in the opinion of the President. The 15th and current Attorney General is K. K. Venugopal. He was reappointed by President Ram Nath Kovind in 2020.