Senior IAS officer K. Sanjay Murthy has assumed office as the Comptroller and Auditor General (CAG) of India.
CAG is a Constitutional Body, and Article 148 to Article 151 deals with the provisions related to it.
Appointed by the President, CAG holds office for 6 years or up to the age of 65 years, whichever is earlier.
CAG enjoys the same status as a sitting judge of the Supreme Court of India in order of precedence and can be removed by the President on the same grounds and in the same manner as a judge of the Supreme Court.
Known as the guardian of the public purse, CAG audits the accounts of the Union and State governments, as well as public sector organizations. However, its report is post-facto i.e. after the expenditure is incurred, and has only prospective value in improving systems and procedures.
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