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The Comptroller and Auditor General of India (CAG) entered into a Memorandum of Understanding (MoU) with the Indian Institute of Management Kozhikode (IIM K) to enhance the quality, consistency and impact of performance audits through improvements in stakeholder engagement and quality assurance.
Speaking at the signing ceremony, CAG K. Sanjay Murthy said, "This partnership with IIM Kozhikode represents another step in our ongoing efforts to integrate best practices and academic excellence into our audit methodologies." Prof. Debashis Chatterjee, Director of IIM Kozhikode, stated, "We are honoured to partner with the Office of the CAG of India in this important initiative, and this collaboration would be beneficial for both." The partnership will leverage the institute's expertise to further refine the diverse audit approaches, stakeholder engagement, and reporting frameworks, making Performance Audit an instrument that adds value to stakeholders. The collaboration will also focus on developing and evaluating performance management systems, as well as enhancing career management and motivation strategies. The MoU was signed by Ms. Swati Pandey, Principal Director (Personnel, SMU and Coordination), on behalf of CAG, and Prof. Debashis Chatterjee, Director of IIM Kozhikode, in the presence of Shri K. Sanjay Murthy, Comptroller and Auditor General of India, and other senior officials from both institutions. This collaboration is part of CAG's ongoing strategic initiative to engage with premier national institutions, enhancing its audit capabilities and contributing to the broader goal of governance in India's growth journey. The partnership with IIMK will leverage the institute's expertise in research and innovation to strengthen CAG's performance audit framework. The project will include an assessment of current audit practices, stakeholder consultations, and the development of specific frameworks and templates to improve performance audits. The initiative will also include follow-up activities to oversee the implementation of recommendations in performance audits at both the State and the Union levels. This MoU with IIM Kozhikode continues the emphasis of CAG's strategic initiative to engage with institutes of national importance, following recent collaborations with IIM Ahmedabad, IIM Mumbai, IIT Madras, the National Institute of Urban Affairs (NIUA), and other premier institutions. (ANI)
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