India Sign MoU with UAE to Strengthen Public Sector Audit Cooperation
Agreements and MoU
3 min read
The Comptroller and Auditor General of India (CAG) has signed a Memorandum of Understanding (MoU) with the United Arab Emirates (UAE) Accountability Authority to foster collaboration between the two institutions in public sector audits.
The agreement was signed by Girish Chandra Murmu, the Comptroller and Auditor General of India, and Humaid Obaid Khalifa Obaid Abushibs, the President of the UAE Accountability Authority in Abu Dhabi, United Arab Emirates(UAE).
The CAG is the apex audit institution in India, and the UAE Accountability Authority is the supreme auditing authority in the UAE.
Aim of the MoU
- The MoU aims to promote collaboration between the two institutions in public sector auditing.
- It seeks to facilitate the exchange of knowledge and best practices in public sector audits.
- It seeks to facilitate the capacity development of each country's auditors by providing training facilities in other countries.
Comptroller and Auditor General of India (CAG)
The Comptroller and Auditor General of India (CAG) is a constitutional body established under Article 148 of the Constitution.
Dr Bhim Rao Ambedkar declared the CAG the most important office under the constitution.
- The Comptroller and Auditor General of India, also known as the Guardian of Public Funds, is the custodian of public finances and controls the country's financial system.
- It does not perform the function of a Comptroller.
- It is the supreme auditing body in India that audits the accounts of the central government, state governments, and the Union Territories with legislatures (Delhi, Puducherry, Jammu, and Kashmir).
- It also audits the accounts of the central and state governments' public sector undertakings.
- The CAG report is submitted to the President in the case of an audit of the central government and to the respective state governors in the case of state accounts audits.
- The CAG report is laid down by the President in the Parliament and by the respective state governor in the state legislature.
United Arab Emirates
Capital: Abu Dhabi
Currency: Emirati dirham
President: Sheikh Mohammed bin Zayed Al Nahyan
