he powers of the CAG, regarding audits, are provided for in the Comptroller and Auditor General of India (Duties, Powers and Conditions of Service) Act, 1971.
...
The CAG submits three audit reports to the President:

• Audit Report on Appropriation Accounts.
• Audit Report on Finance Accounts.
• Audit Report on Public Undertakings.

Dear student,

CAG means comptroller and Auditor General of India(CAG), the constitution of India provides independent office for CAG. He is the head of Indian audit and accounting department.

He controls the Financial system of public or country in both central level and state level.

Powers of CAG:

1. He is appointed by the president of India and can be removed only by the judges of Supreme Court.

2. He is appointed to this office should be take oath of the office before the president.

3. Salary, pension, age of retirement are determined by the parliament of India.

4. Expenses on the administration of the office includes all allowances, pensions, salaries would be charged to the consolidated fund of India.

Hope this is helpful to you,

Thank you.

Dear student,

The Comptroller and Auditor-General shall be responsible-

(a) for compiling the accounts of the Union and of each State from the initial and subsidiary accounts rendered to the audit and accounts offices under his control by treasuries, offices or departments responsible for the keeping of such accounts; and

(b) for keeping such accounts in relation to any of the matters specified in clause (a) as may be necessary:

[Provided that the President may, after consultation with the Comptroller and Auditor-General, by order, relieve him from the responsibility for compiling-

(i) the said accounts of the Union (either at once or gradually by the issue of several orders) ; or

(ii) the accounts of any particular services or departments of the Provided further that the Governor of a State may, with the previous approval of the President and after consultation with the Comptroller and Auditor-General, by order, relieve him from the responsibility for compiling-

(i) the said accounts of the State (either at once or gradually by the issue of several orders) ; or

(ii) the accounts of any particular services or departments of the State :]

[Provided also] that the President may, after consultation with the Comptroller and Auditor-General, by order, relieve him from the responsibility for keeping the accounts of any particular class or character.

(2) Where, under any arrangement a person other than the Comptroller and Auditor-General has, before the commencement of this Act, been responsible-

(i) for compiling the accounts of any particular service or department of the Union or of a State, or

(ii) for keeping the accounts of any particular class or character.

such arrangement shall, notwithstanding anything contained in subsection (1), continue to be in force unless, after consultation with the Comptroller and Auditor-General, it is revoked in the case referred to in clause (i), by an order of the President or the Governor of the State, as the case may be, and in the case referred to in clause (ii), by an order of the President.

• Comptroller and Auditor-General to prepare and submit accounts to the President, Governors of States and Administrators of Union territories having Legislative Assemblies
• Comptroller and Auditor General to give information and render assistance to the Union and States.
• General provisions relating to audit.
• Audit of receipts and expenditure of bodies or authorities substantially financed from Union of State Revenues.
• Functions of Comptroller and Auditor-General in the case of grants or loans given to other authorities or bodies.
• Audit of receipts of Union or of States.
• Audit of accounts of stores and stock.
• Powers of Comptroller and Auditor-General in connection with audit of accounts.
• Audit of Government companies and corporations.
• Audit of accounts of certain authorities or bodies .

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