Article 150 of the Indian Constitution talks about maintaining the financial accounts of the union and the state.
Let us dig deep into Article 150 of the Indian Constitution.
What does Article 150 of the Indian Constitution say?
150. Form of accounts of the Union and of the States The accounts of the Union and of the States shall be kept in such form as the President may, on the advice of the Comptroller and Auditor General of India, prescribe
Article 150 of the Indian Constitution says that all the financial accounts of the state government and the Union government will have to keep in the way described by the president.
The President has to consult the Comptroller and Auditor General Of India while deciding how the accounts must be kept.
We can conclude from Article 150 of the Indian Constitution that when it comes to the financial accounts of the union or state government, even the president has to consult the CAG of India.
Nothing could be decided without consulting the CAG of India.
What powers does the CAG have to perform his role?
The provisions of the Act allow him to freely carry out his extensive audit duty by requiring him to do the following:
Authority to conduct audit-related site visits at any facility he is auditing.
A chance to interrogate the CEO and look into all financial dealings.
The authority to request any and all audited entity records, papers, and documents.
The authority to determine the scope of any audit and the procedures to be used.