The full form of CAG is Comptroller and Auditor General. CAG is an authority established by the Constitution of India. It audits the expenditure of government and creates a report on it.
- President of India appoints the cag on the recommendation of Prime Minister. CAG takes his oath before the president of India. After a person is appointed as a cag, he is not allowed to keep any positions in any government offices.
- The salary of a cag is same as the salary of a judge of supreme court. His status is also same as the status of a judge of supreme court. In Indian order of precedence, CAG is ranked ninth.
- CAG can only be removed from his post by president of India on the recommendation of parliament (supported by two third majority of the total members of both the houses).
- A person holds the office of CAG for maximum six years or up to the age of 65.
- The first cag was V. Narahari Rao. The current cag is Shashi Kant Sharma.
Functions of CAG:
- Comptroller and Auditor General ensures that no extra amount is expended without the sanction of parliament by auditing the accounts of government of India.
- CAG also audits the accounts of the state government and the accounts of the authorities substantially financed by the government.
- He/She acts as the external auditor for the government owned companies.