Accounting

The Comptroller and Auditor General of India has underscored the urgent need to reinforce audit practices across Public Authority Institutions (PAIs), warning that weak oversight can undermine financial discipline and public trust. In recent observations, the national auditor emphasized that transparent, timely and technology-driven audits are essential to ensure accountability in the use of public funds. The remarks come amid rising government expenditure and increasingly complex financial structures within public bodies.

The Institute of Chartered Accountants of India (ICAI) has announced a strategic initiative to finance and support homegrown Management Development Programs (MDPs) aimed at global expansion. This initiative seeks to enhance India’s corporate training ecosystem, enabling domestic firms to scale their expertise internationally. By providing financial backing, mentorship, and global market insights, ICAI aims to position Indian MDPs as competitive offerings in international business education and executive training markets.

In a move aimed at reinforcing financial accountability and governance, the Indian government has appointed Nitin Gupta as the new Chairperson of the National Financial Reporting Authority (NFRA), the country’s premier regulatory body for accounting and auditing standards. Alongside Gupta’s appointment, three new full-time members have also been inducted, marking a significant reshaping of the authority’s leadership.

India’s Comptroller and Auditor General (CAG) is moving to enhance the financial scrutiny of central autonomous bodies by partnering with empanelled Chartered Accountant (CA) firms across 30 cities. Deputy CAG Anand Mohan Bajaj emphasized that the inclusion of these firms—under CAG supervision—will strengthen audit efforts without compromising institutional autonomy or accountability. While concerns have been raised about constitutional integrity, Bajaj clarified that CA firms will serve as technical collaborators rather than replacements.