Celebration of First Audit Diwas on November 16

Highlights:

• Prime Minister, Narendra Modi, is set to address the event of first Audit Diwas on November 16, 2021.
• The event will be held at CAG office premises.
• On the occasion, PM will also unveil the statue of Sardar Vallabhbhai Patel.
• First edition of the Audit Diwas will be celebrated to mark the historic origins of the institution of CAG and the contribution made by it to the governance, transparency and accountability.

• CAG is the Constitutional Authority in India. 
• It was established in accordance with Article 148 of the Constitution of India. 
• CAG is empowered to Audit all receipts and expenditure of the central as well as state governments. 
• The CAG is the statutory auditor of Government-owned corporations. 
• It conducts supplementary audit of government companies, where Government is having an equity share of 51%.
• Reports of the CAG are laid before Parliament or Legislatures. 
• They are being taken up for discussion by Public Accounts Committees (PACs) and Committees on Public Undertakings (COPUs). 
• Currently, former Lt. Governor of UT of Jammu Kashmir G. C. Murmu is serving as CAG of India. 
• He is the 14th CAG of India since August 2020.