Centre of Excellence for Financial Audit launched by CAG Sanjay Murthy in Hyderabad
Hyderabad: Comptroller and Auditor General of India K. Sanjay Murthy launched the Centre of Excellence for Financial Audit in Hyderabad on Wednesday. The new Centre aims to improve public sector auditing through digital tools and research-driven methods.
Centre of Excellence for Financial Audit to strengthen AI-based audit systems
Officials said the Centre will focus on audits of PSEs, Autonomous Bodies and Urban Local Bodies. Moreover, it plans to integrate AI and Machine Learning tools to support deeper analysis. The CAG’s office said these technologies are crucial as public finance systems expand in size and complexity.
Deputy CAG Anand Mohan Bajaj, Additional Deputy CAG and NAAA Director General S. Alok and several senior officers attended the launch. They said the Centre will create a modern audit ecosystem by combining global practices, digital systems and skill development.
The Centre will work under the constitutional mandate of the CAG of India to ensure financial transparency. Therefore, it will operate as a hub for research, innovation, policy support and capacity building. Officials added that the Centre aims to equip auditors with stronger analytical skills for a fast-changing financial environment.
During the programme, ICAI and the Office of the Principal Director of Commercial Audit, Hyderabad, demonstrated two data analytics models. These models showed how future research in the Centre may progress. The CAG also unveiled the official logo and board of the Centre and reviewed the website layout prepared for the platform.
The facility opened at a temporary location in the former Regional Capacity Building and Knowledge Institute in the Accountants General Offices Complex. The CAG said NAAA Shimla will lead research and training efforts because it is the premier institute of the IA&AD. Furthermore, the Commercial Audit Wing at CAG Headquarters will oversee the Centre’s technical work.
A Framework Agreement was also signed between the Centre and ICAI. The partnership aims to support training, research and joint publications in financial auditing of PSEs, Autonomous Bodies and Urban Local Bodies.