Consider the following statements about the duties of CAG
1.He/she enjoys absolute authority in auditing the accounts of government companies and public corporations.
2.He/she acts as the comptroller of all profit and loss accounts of any department of the state government.
Which of the statements given above is/are correct?
Both 1 and 2
Incorrect AnswerNeither 1 nor 2
Correct AnswerExplanation:
Neither 1 nor 2
"He/she enjoys absolute authority in auditing the accounts of government companies and public corporations." - This statement is incorrect. While the Comptroller and Auditor General (CAG) of India has significant authority in auditing the accounts of government entities, the term "absolute authority" may be an overstatement. The CAG's powers and functions are defined by the Constitution and various statutes.
"He/she acts as the comptroller of all profit and loss accounts of any department of the state government." - This statement is incorrect. The CAG primarily serves as the auditor of government accounts, ensuring transparency and accountability. The term "comptroller" generally refers to a financial officer responsible for financial management, but it is not the primary role of the CAG.
Therefore, the correct answer is 4, "Neither 1 nor 2."
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By: Kamal Kashyap