What is CAG in simple words?

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What is CAG in simple words?

CAG stands for Comptroller and Auditor General of India. It is an authority which is established under Article 148 of the constitution of India. Its primary role is to audit all the expenditure of central government, state government and organizations which are financed by the government.

Who can become CAG of India?

CAG Recruitment 2021: Age limit Candidates should be between 18 years to 27 years of age to apply for this recruitment. Age relaxation is applicable as per government rules.

Who is current CGA of India?

Government of India has appointed Shri Deepak Das , 1986-batch Indian Civil Accounts Service (ICAS) Officer as the Controller General of Accounts (CGA), Ministry of Finance, Department of Expenditure with effect from August 1, 2021.

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How do I get a job at CAG?

After getting the post of Assistant Audit Officer, you must go for a training which is conducted by Indian Audit and Account Department (IA&AD) of CAG (Comptroller and Auditor General). The training period will be 3 months. There are 12 Regional Training Institute in India which provide the AAO training.

What is the meaning of caccagr?

CAGR stands for the Compound Annual Growth Rate. It is the measure of an investment’s annual growth rate over time, with the effect of compounding taken into account. It is often used to measure and compare the past performance of investments, or to project their expected future returns.

How does the CAGR work in an example?

Building on the above example, the CAGR correctly shows the ending value of the investment if a –3\% CAGR was applied over a two-year compounding period. However, the CAGR assumes that the investment falls at a constant 3\%, when, in fact, it grew by 25\% in the first year.

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Can the Office of the CAG perform a propriety audit?

The office can perform a propriety audit, that is, it can look into the ‘wisdom, faithfulness and economy’ of government expenditure and comment on the wastefulness of such expenditure. However, unlike the legal and regulatory audit, which is obligatory on the part of the CAG, the propriety audit is discretionary.

Who is new Comptroller and Auditor General of India (CAG)?

On 7th August 2020, Girish Chandra Murmu has been appointed as the new Comptroller and Auditor General of India (CAG.) Earlier, he was the Lieutenant-Governor of Jammu & Kashmir Union Territory.

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