Friday, June 14, 2024

‘Corporate and private cos should be within CAG ambit’


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By Our Reporter

Ingeneeity Baiahum Swer performs Bharat Natyam dance at the closing ceremony of the 150th anniversary of the Institute of the Comptroller & Auditor General of India at the office premises, in Shillong on Friday. (ST)

 SHILLONG: Meghalaya Legislative Assembly Speaker Charles Pyngrope has asserted that the ambit of CAG should be expanded to the corporate world and private domains as well.

Addressing the closing ceremony of the 150th anniversary year celebration of the institute of the Comptroller and Auditor General of India, Pyngrope endorsed the demand that the ambit of CAG should be expanded.

“Every single activity that uses money for producing goods and services to be consumed by common man needs to be audited,” Pyngrope said while addressing the gathering here on Wednesday. According to Pyngrope, the reach of CAG should be unlimited and it should include the corporate and private entities as well, adding that fraud on the public can only be prevented by auditing private companies as well.

Charles Pyngrope was also of the view that there is a need for preventive audit and the system of concurrent audit must be instituted in every organisation to prevent wasteful expenditure.

“CAG today is in the forefront of fighting corruption,” Pyngrope added.

Earlier, Principal Accountant General A Langstieh informed that CAG derived its authority and powers from the articles 148 to 151 of the Constitution of India.

Meanwhile, cultural programmes and prizes were also given to the staff and officers who participated in different events organized to mark the 150th anniversary of the institution.

It may be mentioned that when the British crown took over the reigns of governance of British India from the East India company in 1858, it created the post Auditor General of India.

The CAG has also unearthed big scams throughout the country through its audit findings.


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