OFFICE OF THE PRINCIPAL DIRECTOR OF COMMERCIAL AUDIT & ex-OFFICIO MEMBER AUDIT BOARD, CHENNAI
The Articles 148, 149, 150 & 151 of Constitution of India and the Comptroller and Auditor-General’s (Duties, Powers and Conditions of Service) Act, 1971-DPC Act, 1971 provide the mandate for audit of Central Public Sector Enterprises (CPSEs) & Central Autonomous Bodies (CABs) to the Comptroller & Auditor General of India (CAG). The regulations for conduct of audit are governed by CAG’s Regulations on Audit and Accounts, 2007.
The audit of bodies and authorities/other than the Government establishments and the companies by the C&AG is governed by the provisions contained in Sections 14,15,19(2),19(3) and 20 of the DPC Act, 1971. In addition Sec 19 and Sec 20 of the Companies Act 2013 provide for the audit of CPSEs and Statutory Corporations .
This Office is headed by Principal Director and ex-Officio Member Audit Board (MAB) and he/she is assisted by two Directors/Deputy Directors. Local Audit Parties (LAPs) and Resident Audit Parties (RAPs) conduct the audit of CPSEs/CB s and Statutory Corporations.