Q. Consider the following statements regarding the duties and powers of the Comptroller and Auditor General (CAG) of India:
1.The CAG audits the receipts and expenditure of only those bodies that are completely financed by the Central Government.
2.The CAG submits three audit reports to the President, including the audit report on public undertakings.
3.The CAG certifies the net proceeds of any tax or duty, and his certificate is final.
Which of the statements given above is/are correct?
Quarterly-SFG-Jan-to-March
Red Book

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: B
Notes:

Explanation:

  • The CAG audits all bodies and authorities substantially financed (not only completely financed) from Central or State revenues.
  • The CAG submits three audit reports to the President: audit report on appropriation accounts, audit report on finance accounts, and audit report on public undertakings.
  • The CAG ascertains and certifies the net proceeds of any tax or duty (Article 279), and his certificate is final.

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