Specialty Course on Learnings from Observations of Oversight Agencies
The role of oversight agencies is to monitor, regulate and ensure compliance with laws, regulations and procedures in government and its associated entities. It is done to ascertain the accuracy of ...
The role of oversight agencies is to monitor, regulate and ensure compliance with laws, regulations and procedures in government and its associated entities. It is done to ascertain the accuracy of financial statements provided by the organization. Oversight agencies can be internal to organization or external. The idea is to check and verify the accounts by an independent authority to ensure that all books of accounts are done in a fair manner and there is no misrepresentation or fraud that is being conducted.
Main oversight agencies related to public procurement are
- Comptroller and Auditor General (C&AG)
- Local Fund & Audit Department (LFAD), Rajasthan
- Competition Commission of India (CCI)
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