1st Audit Diwas was celebrated on November 16. Audit Diwas is being celebrated to mark the historic origin of the institution of CAG and the contribution it has made to the governance, transparency and accountability over the past several years.
- The Constitution of India provides for an independent office of the Comptroller and Auditor General of India (CAG) in chapter V under Part V.
- The CAG is mentioned in the Constitution of India under Article 148 – 151.
- He is the head of the Indian Audit and Accounts Department.
- He is the guardian of the public purse and controls the entire financial system of the country at both the levels- the centre and state.
- His duty is to uphold the Constitution of India and the laws of Parliament in the field of financial administration.
- The CAG is appointed by the President of India by a warrant under his hand and seal.
- He holds office for a period of six years or upto the age of 65 years, whichever is earlier.