CAG

Know your Empanelment/ Audit Allotment Status with CAG

CA, CS, CMA - A CA firm who applied for empanelment with CAG for Financial Year 2012-13 can check the status of his Empanelment & Audit work allotted by following the procedure given below :- ...

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GST on Audit Services by CAG to Ports

CA, CS, CMA - CAG is one of the pivotal offices in the Government of India who controls the entire financial system of the country. The appointment of CAG is done by President of India under Article 148.  President of India is the Executive head of the Union of India.  Audit is conducted by CAG under section 18 of the Comptroller & Auditor General’...

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How to do Follow up of CAG Report- Department Guide

CA, CS, CMA - In this series, one of the important areas covered is CAG Reports. There is a general tendency to look at CAG Report as an additional burden but we have to understand that the CAG Report gives lots of insights in the functioning of the department and gives pointers to improve the system. ...

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Payment of tax by certain companies U/s. 115JB- CAG Report

CA, CS, CMA - Several companies that were having large profit from business and distributing substantial portion of the income to their shareholders as dividend, were reducing their tax liability by availing various deductions and exemptions available in the Act. ...

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Extend date for CAG empanelment of Chartered Accountant firms

CA, CS, CMA - The empanelment process of Chartered Accountant firms (firm) and Limited Liability Partnership firm (LLP) for allotment of audit of Public Sector Undertakings/Statutory Corporations for the year 2016-17. The desired firms were allowed to fill the online forms till 15th February 2016....

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Check CAG Provisional empanelment status

CA, CS, CMA - Provisional empanelment status of the firm along with provisional point score for the year 2022-2023 will be available on the website www.care.cag.gov.in from 06 May 2022 to 17 May 2022. Representations, if any, for rectification of clerical mistakes in the online data may be sent by email at [email protected] by 17 May 2022....

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UIDAI cancel more than 4.75 lakh Aadhaars for being duplicate

CA, CS, CMA - Uniqueness of identity of the Applicant, established through a de-duplication process is the most important feature of Aadhaar. It was seen that UIDAI had to cancel more than 4.75 lakh Aadhaars (November 2019) for being duplicate. There were instances of issue of Aadhaars with the same biometric data to different residents indicating flaw...

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Empanelment of CA firms with CAG- Extension of the Last Date

CA, CS, CMA - Considering the difficulties faced by Chartered Accountant firms/LLPs in submitting the online empanelment for audit of PSUs for the year 2022-23, the O/o C&AG on the request of ICAI has extended the last date for submission of online application from 15th February, 2022 to 22nd February, 2022 as a onetime relief...

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CAG Empanelment of CA firms/LLPs for year 2022-23 started

CA, CS, CMA - CAG Empanelment process for 2022-23 has started. Last Date for online submission is 15th February, 2022. The firms/LLPs will be required to submit a print out of the acknowledgement letter generated online and also hard copies of the documents in support of their online application to the CAG Office by 28th February, 2022. Visit http://c...

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Summary of CAG Audit Report on Assessment of Co-op Societies & Banks

CA, CS, CMA - Performance Audit Report No. 16 of The Comptroller & Auditor General of India on ‘Assessment of Co-operative Societies and Co-operative Banks’ was laid on the floor of the Parliament here today. The PA was carried out from March 2019 to September 2019 and findings were discussed with the Central Board of Direct Taxes (CBDT) in July 20...

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Most TP Audit Report by CAs unreliable with pathetic professional work

Wrigley India Pvt Ltd Vs ACIT (ITAT Delhi) - It seems CAs are under attack from all parts of the world for good or not so good reasons. Recently CAG in its report Criticised CAs for alleged Mistakes in Tax Audit Report and signing of Tax Audit Reports more than the prescribed limit....

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CAG’s Appointment – Delhi High Court Judgment

N Gopalaswami &ORS Vs The Union of India & ANR (Delhi High Court) - The Delhi High Court has dismissed two writ petitions filed by N.Gopalaswami (Former CEC) & others and Manohar Lal Sharma, Advocate challenging the appointment of Shri Shashi Kant Sharma as CAG of India made in May 2013...

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CAG can audit Pvt. Companies if Govt Revenue is in question

Association of Unified Telecom Service Providers of India Versus Union of India & Others (Delhi High Court) - The Delhi High Court has delivered a judgement in the case of Association of Unified Telecom Service Providers of India Versus Union of India & Others on the powers of CAG to audit the revenues of Private Telecom Companies flowing to the Consolidated Fund of India...

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Regulations on Audit and Accounts (Amendments) 2020

F. No. 11-PPG/2020 - (20/08/2020) - (1) These Regulations may be called Regulations on Audit and Accounts (Amendments) 2020 (2) They shall come into force on the date of issue....

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Notice for abandonment of Trademark Applications

Public Notice No. CG Office/TMR/Public Notice/2016 - (04/04/2016) - This office has taken steps to treat the applications as abandoned in which no reply to examination report containing office objections to acceptance of the applications for registration has been received within the period of 30 days as per Trade Marks Act, 1999 and rules made thereunder. It is pert...

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CAG Circular regarding PSU audit guidelines

CAG office circular No.134-CA-IV/42-2001(III) - (15/04/2010) - Whether the Company has been listed on the stock exchanges? If yes, the names of the stock exchanges may please be indicated? If so, whether the provisions of listing agreement of SEBI are being followed by the Company? (2) Whether the Company has 50% independent directors on their Board as requi...

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Recent Posts in "CAG"

Check CAG Provisional empanelment status

Provisional empanelment status of the firm along with provisional point score for the year 2022-2023 will be available on the website www.care.cag.gov.in from 06 May 2022 to 17 May 2022. Representations, if any, for rectification of clerical mistakes in the online data may be sent by email at [email protected] by 17 May 2022....

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Posted Under: CA, CS, CMA |

UIDAI cancel more than 4.75 lakh Aadhaars for being duplicate

Uniqueness of identity of the Applicant, established through a de-duplication process is the most important feature of Aadhaar. It was seen that UIDAI had to cancel more than 4.75 lakh Aadhaars (November 2019) for being duplicate. There were instances of issue of Aadhaars with the same biometric data to different residents indicating flaw...

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Posted Under: CA, CS, CMA | ,

Empanelment of CA firms with CAG- Extension of the Last Date

Considering the difficulties faced by Chartered Accountant firms/LLPs in submitting the online empanelment for audit of PSUs for the year 2022-23, the O/o C&AG on the request of ICAI has extended the last date for submission of online application from 15th February, 2022 to 22nd February, 2022 as a onetime relief...

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Posted Under: CA, CS, CMA |

CAG Empanelment of CA firms/LLPs for year 2022-23 started

CAG Empanelment process for 2022-23 has started. Last Date for online submission is 15th February, 2022. The firms/LLPs will be required to submit a print out of the acknowledgement letter generated online and also hard copies of the documents in support of their online application to the CAG Office by 28th February, 2022. Visit http://c...

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Posted Under: CA, CS, CMA |

Summary of CAG Audit Report on Assessment of Co-op Societies & Banks

Performance Audit Report No. 16 of The Comptroller & Auditor General of India on ‘Assessment of Co-operative Societies and Co-operative Banks’ was laid on the floor of the Parliament here today. The PA was carried out from March 2019 to September 2019 and findings were discussed with the Central Board of Direct Taxes (CBDT) in July 20...

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Posted Under: CA, CS, CMA |

CAG report on Compliance Audit (Department of Revenue- Customs)

The Compliance Audit Report No. 17 of 2020 of the Comptroller and Auditor General of India on Department of Revenue - Customs and Director General of Foreign Trade under Ministry of Commerce and Industry, for the year ended 31 March 2019 was presented in Parliament here today....

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Posted Under: CA, CS, CMA |

CAG reports deficiencies in GST Refund, Returns & E-Way Bill module

Absence of adequate controls, risk of claiming refund on unverified ITC and deficiencies in integration of GST Portal with the Indian Customs EDI Systems (ICES) application for IGST refund on export of goods resulted in following deficiencies in Refund module:...

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Posted Under: CA, CS, CMA |

CAG finds 192 cr of unauthorised payment of idle salary etc in J&K

Part-I comprising of Chapters-1 and 2, covers audit findings of eight Government departments and contains nine paragraphs involving Rs. 192.47 crore relating to Management of Bank accounts, unfruitful expenditure, unauthorised payment of idle salary etc....

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Posted Under: CA, CS, CMA |

CAG extends last date for online empanelment application

Extension of the Last Date for submission of application for Empanelment of Chartered Accountants firms/LLPs with O/o C&AG for the year 2021-22...

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Posted Under: CA, CS, CMA |

CAG may soon appoint 10811 Accountants and Auditors

CAG has issued two draft notifications by which it has proposed to appoint 10,811 new auditors.  It has invited comments on the proposed Recruitment Rules to the post of Auditor/ Accountant, Level 5 in pay matrix. Proposed draft rule proposed appointment of  6409 Auditors vide Draft Indian Audit and Accounts Department (Auditor) Recruit...

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Posted Under: CA, CS, CMA |

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