%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(20).png "ICAI & CAG Sign MoU for Capacity Building Programs in Public Sector Audits")
Here’s a breakdown of its objectives and significance:
a) To increase the number of chartered accountants in India
b) To strengthen public sector auditing capabilities
c) To reduce the tax burden on citizens
d) To promote international accounting standards
- Capacity Building: The partnership focuses on training CAG officials in key areas such as accounting standards, auditing standards, IT tools, and forensic accounting. This will ensure more efficient and accurate audits in the public sector.
- Training Programs: ICAI will conduct structured training sessions at its Centre of Excellence, starting in May 2025 in Hyderabad. Entry-level and advanced programs are included.
- Knowledge Sharing: The collaboration ensures the exchange of expertise between ICAI and CAG, enhancing professional competency in handling complex audits.
- Impact: This MoU is expected to elevate the quality of governance and accountability in India’s public sector.
Question:
Q.1 What is the primary objective of the MoU signed between Chartered Accountants of India (ICAI) and the Comptroller and Auditor General (CAG) on April 21, 2025?a) To increase the number of chartered accountants in India
b) To strengthen public sector auditing capabilities
c) To reduce the tax burden on citizens
d) To promote international accounting standards
Answer: b) The MoU specifically aims to enhance the auditing capabilities within the public sector by focusing on training and capacity building for CAG officials.
