Which corporation is not fully audited by CAG?
Food Corporation of India. Oil and Natural Gas Commission. Damodar Valley Corporation. Air India.
Can CAG audit government companies?
The accounts of the Government Companies (including Companies deemed to be Government Companies as per the provision of the Companies Act) are audited by the Comptroller and Auditor General of India (CAG) under the provisions of Section 619 of the Companies Act 1956 and Section 139 and 143 of the Companies Act 2013.
Why CAG does not audit RBI?
“In India, CAG does not audit the RBI, whose auditors are appointed by Central Government under the provisions of the RBI Act. CAG conducts audit of other financial sector regulators like SEBI, IRDA and PFRDA but does not conduct performance audits,” Mr. Sharma added.
Who submits the CAG report in Parliament?
Article 151 – Audit Reports The reports of the Comptroller and Auditor-General of India relating to the accounts of the Union shall be submitted to the president, who shall cause them to be laid before each House of Parliament.
What is RFIA audit in SBI?
The Full Form of RFIA is Risk Focussed Internal Audit. RFIA also in some banks called Risk Based Internal Audit (RBIA) is not about auditing risks but about. auditing the management of risk. Its focus is on the processes applied by the management team.
Which of the following is not audited by CAG?
CAG does not audit the secret service agencies of the government. Government Corporations like RBI, LIC, SBI and many more such corporations are not audited by CAG. CAG can audit them but on advice of President only. A few PSUs are also not audited by CAG.
Does the CAG have a statutory audit plan?
While the CAG has no plan to directly audit these entities, the statutory auditor wants to bolster the mechanism set up by the state governments for examination of fund flows and use.
Can RBI be audited by the CAG?
The CAG is formed to Audit the income and Expenditure of Central and State Govts,They have no authority to Audit other institutions . As far as RBI is concerned as per RBI Act 1934 ,section 1 and 2 Govt is appointing the Auditor
Does CAG audit the Defence Accounts of India?
The duties of the Defence Accounts Department are broadly audit, payment and accounting of all charges pertaining to the Armed Forces, including bills for supplies and services rendered and for construction/repair wor No, CAG does’t audit the defence accounts of India.