According to reports, Comptroller and Auditor General (CAG) of India has signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of India (ICAI), aimed at strengthening the capacity building framework in the areas of commercial accounting and financial auditing, taxation and other related aspects in the institution of CAG of India.

The signing ceremony was held in the presence of K. Sanjay Murthy, Comptroller and Auditor General of India, along with senior officers from the respective institutions.

CAG says, "The MoU would help in strengthening professional capacity for achieving the greater goal of contributing towards economic growth and development. Capacity building of the human resources is of paramount importance and the professional experience and expertise of ICAI would help in strengthening the domain knowledge."

The MoU would encompass Entry Level training initiatives for new hires, Advanced Level courses for seasoned officers, and a Continuous Professional Education (CPE) system in collaboration with ICAI.

The collaboration is focused on creating extensive training programs that encompass accounting standards, auditing standards, auditing on digital platforms such as ERP, industry-specific applications, forensic accounting, and fraud investigation, among others.

The programs would adopt a hands-on and application-focused strategy aimed at improving analytical abilities in the relevant fields.

 

Also Read: How Advantage Assam 2.0 is Paving the Way for Economic Flare

This collaboration demonstrates CAG's dedication to cultivating industry knowledge, encouraging practical insights, and advancing ongoing professional growth in auditing, aimed at improving the quality of audit offerings for our stakeholders.