CAG reconstitutes audit advisory board

July 22nd, 2011 - 5:15 pm ICT by IANS  

New Delhi, July 22 (IANS) The Comptroller and Auditor General of India (CAG) Friday said it had reconstituted the audit advisory board that would suggest the scope of improvements in the audit process.

The advisory board will be headed by Comptroller and Auditor General Vinod Rai, who is the ex-officio chairman.

The main function of the board will be to advise the CAG in matters relating to audit and suggest improvements in the performance and focus of audit within the framework of the constitution and statutory mandate, an official statement said.

The first meeting of the reconstituted board will take place Aug 17 in New Delhi. The board is reconstituted every two years. Members of the board function in an honorary capacity.

The reconstitution of the board is particularly important as the CAG’s recent reports, particularly on 2G spectrum allocation, created ripples in the country’s political circle leading to resignation of two cabinet ministers and arrest of ministers and top telecom officers.

Members of the reconstituted board include K.V. Kamath, chairman of ICICI Bank; Shabana Azmi, actress and social activist; Shailaja Chandra, former chief secretary of Delhi; Sunita Narain, director general of the Centre for Science and Environment; and Kalpana Morparia, chief executive officer of JP Morgan India.

Five Deputy CAGs will be the ex-officio members of the board.

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