CAG & IIM Kozhikode Partner for Performance Audit Enhancements

New Delhi, Apr 23 (PTI) The Comptroller and Auditor General of India (CAG) entered into an agreement with the Indian Institute of Management Kozhikode to enhance the quality and impact of performance audits through improvements in stakeholder engagement.

The Memorandum of Understanding (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, CAG office said in a release.

Speaking at the signing ceremony, CAG K Sanjay Murthy said the partnership with IIM Kozhikode represents another step in the ongoing efforts to integrate best practices and academic excellence into audit methodologies.

The partnership will leverage the institute's inputs for further refining the diverse audit approaches, stakeholder engagement, and reporting frameworks for making Performance Audit as an instrument to add value to stakeholders. The collaboration will also focus on developing and evaluating the performance management systems and enhancing career management and motivation strategies.

"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," said Debashis Chatterjee, Director of IIM Kozhikode.

The MoU was signed by Swati Pandey, Principal Director (Personnel, SMU & Coordination), on behalf of CAG, and Debashis Chatterjee in the presence of Murthy and other senior officials from both institutions.

The project will include assessment of current audit practices, stakeholder consultations, and development of specific frameworks and templates for improving performance audits.

The initiative will also include follow-up activities to oversee the implementation of recommendations in performance audits at both state and union levels, the CAG office said.