CAG & IIT Madras Partner for Sustainable Audit

New Delhi, Feb 24 (PTI) Comptroller and Auditor General of India (CAG) and Indian Institute of Technology Madras on Monday signed a memorandum of understanding (MoU) to foster innovation, enhance data analytic capabilities and contribute to technology-driven governance practices.

The collaboration will combine the expertise and resources of both organizations to enhance the effectiveness and efficiency of the audit process, Office of the CAG said in a release.

The key focus areas of the MoU are, data governance and security; big data and digital infrastructure readiness; academic and research collaboration; advanced auditing practices; sustainability and governance; and joint research and development initiatives.

The release further said another MoU was signed between IIT-Madras and International Centre for Environment Audit and Sustainable Development (iCED), Jaipur for collaboration for capacity building and research in environment audit and environmental, social and governance (ESG).

This partnership will leverage artificial intelligence (AI), machine learning (ML) and other technological advancements for improving the effectiveness of these areas of auditing.

iCED is a premier training institute of CAG.

"Soon everything will be on digital trail and we need to build up our capacity to ensure that we are able to do that job effectively and efficiently," said CAG Sanjay K Murthy.

He said the two MoUs signed with IIT Madras will enhance audit skill sets and improve sustainable audit.

Director IIT Madras V Kamakoti delivered a speech as part of Bhim Rao Ambedkar lecture series in the Office of the Comptroller and Auditor General of India here and spoke at length about how IITM and CAG Office can collaborate on sharing digital technology to enhance audit work.