Comptroller and Auditor General (CAG) of India has signed a Memorandum of Understanding (MoU) with Indian Institute of Management (IIM) Mumbai to enhance efficiency, transparency, and audit capabilities in public sector logistics, supply chain, and inventory management.
Key Highlights of MoU
Objective of MoU:
- MoU is aimed at strengthening audit methodologies and improving resource management across government departments and public sector enterprises.
- Initiative is part of CAG’s broader strategy to collaborate with institutions of national importance, such as IIM Mumbai, to build capacity and enhance audit efficiency in critical sectors.
Focus Areas:
- The partnership will focus on improving auditing practices in sectors such as: Oil & Gas, Defense, Healthcare, Shipping, Coal, Public Distribution Systems (PDS).
- Special emphasis will be placed on logistics, supply chain, and inventory management audits.
Key Initiatives Under the Partnership:
- Capacity Building & Customized Auditor Training
- AI-driven Data Analytics & Technology Integration
- Research, Policy Advisory & Knowledge Exchange
- Workshops, Roundtables, and Global Expert Sessions
Role of IIM Mumbai:
- Academic and Research Support: IIM Mumbai will leverage its expertise to refine audit methodologies in logistics, supply chains, and inventory management.
- Specialized Training: The institute will provide customized training programs to equip Indian Audit and Accounts Department (IAAD) officials with necessary skills.
- Developing New Audit Frameworks: This will help improve assessment and management of public sector operations.
Implementation Plan:
- First Training Batch: A customized training course for 45 CAG officials is scheduled to commence in third week of April 2025.
- This training will focus on auditing and managing logistics and supply chain operations within the public sector.
About Comptroller and Auditor General (CAG) of India
CAG is a constitutional authority responsible for auditing accounts of Union and State governments and other public sector entities.
Established under Article 148 of Constitution of India.
Appointment:
- The President of India appoints the CAG by warrant under his hand and seal.
- The CAG can only be removed in the same manner as a Supreme Court judge.
Supreme Audit Institution:
- The CAG enjoys the same status as a judge of the Supreme Court of India.
- Acts as the guardian of public funds and is accountable to the Parliament and State Legislatures.
Independence and Restrictions:
- The salary and service conditions of the CAG cannot be altered to his disadvantage after appointment.
- The CAG is not eligible for any further office under the Government of India or any State Government after retirement.