Q. Which of the following accounts are usually audited by CAG (Comptroller and auditor general)
1. Receipts and Expenditures of Central government
2. Receipts and Expenditures of State government
3. The balance sheet of FCI
4. The balance sheet of ONGC
5. The balance sheet of SBI
Select the correct answer using the code given below:
Answer: C
Notes:
Exp) Option c is the correct answer.
CAG audit the account of Central and state government. He audits the receipts and expenditure of the Centre and each state. He can also audit the account of local bodies when requested by President or Governor. Some corporations are audited totally by CAG- DVC, ONGC, Air India, etc Some corporations are subjected to private audit and CAG does not come into picture at all like – LIC, RBI, SBI, FCI etc.
