THE PRIEST

The panel of independent external auditors carries out audits and reports periodically on the accounts and management of the U.N., specialised agencies such as the World Health Organisation, the World Food Programme and the World Intellectual Property Organisation and the International Atomic Energy Agency.Formed through a resolution by the U.N. General Assembly in 1959, the panel comprises individual external auditors who are the heads of supreme audit institutions of various countries.

Sixth freedom rights in aviation sector refers to right to fly from a foreign country to another country while stopping in one own's country.For example a foreign carrier operating in "Mumbai-its own city -Paris" can pic passengers from Mumbai and take them to Paris. Recently CAG in his report pointed out that allowing foreign carriers to exercise these rights has resulted in weaning away of passengers from Air India to foreign carriers and recommended rolling back of some rights .

What is CAG? The Comptroller and Auditor General is a 150-year-old institution with a mission to “promote accountability, transparency and good governance through auditing and accounting” of public funds. Its role is to ensure public funds are being used “efficiently and for the intended purposes”. In effect, it means CAG can look into accounts and performance records of all ministries, departments, government-funded agencies and companies. Why the audits? To bring out discrepancies, wasteful expenditure and non-performance of any ministry, project, agency or company that has been funded with public money. While the traditional focus had been on audit of government expenditure, the trend lately has been on the outcome of such expenditure. Who controls CAG? CAG has evolved as an institution since it was set up by the British government in 1850, with Sir Edmund Drummond taking over as the first Auditor General of India on November 16 that year. Today its duties, powers and roles a...