-PTI   Finance minister Pranab Mukherjee today backed the Comptroller and Auditor General (CAG) in the context of reports on various scams, saying the government auditor has not exceeded his jurisdiction.  "I am making it clear that I do not think that CAG is exceeding its jurisdiction or things like that, because basic responsibility of the CAG is to identify, if there is any, lapse," he said during a question-answer session at the...

The Serious Fraud Investigation Office (SFIO) will have powers to investigate and prosecute corporate entities under the Companies Bill, 2011, expected to be cleared by the Union Cabinet before Diwali.  The bill also envisages rotation of company auditors for higher accountability, corporate social responsibility, a more effective regulation of related party transactions and stricter provisions to prevent siphoning of funds through subsidiary and associate companies.  The government expects the bill to modernise,...

The Comptroller & Auditor General (CAG) of India, Vinod Rai, on Sunday said that the audit mandate should be expanded to bring all public expenditure within its purview.   “There is a need for amending the audit mandate of the CAG to bring all public expenditure, including projects under Public-Private Partnership (PPP) mode, within the purview of Public Audit,” Rai said. The statement comes days after Rai said that the credibility of the...

Full text of the speech delivered by the Comptroller and Auditor General to young police officers at the Sardar Vallabhbhai Patel National Police Academy in Hyderabad on October 11, 2011. I am happy to be present today at this premiere training institution to address a group of young officers at the threshold of their careers, as well as senior officers occupying responsible positions in the State Police forces. In a world...

What began as a few whispers is now a booming drumbeat. Powerful senior ministers are asserting that the Right to Information Act (RTI), till now flaunted as one of the UPA government’s biggest gifts to the aam aadmi, is “transgressing into government functioning”. Similar misgivings are being voiced on another constitutional body that has been in the news lately—the Comptroller and Auditor General of India (CAG). Put together, this has...