ICAI and CAG Sign MoU to Enhance Audit Capacity in Public Sector Undertakings

On April 21, 2025, the Institute of Chartered Accountants of India (ICAI) and the Comptroller and Auditor General (CAG) of India signed a Memorandum of Understanding (MoU) to enhance the audit capabilities within Public Sector Undertakings (PSUs). This strategic partnership, driven by ICAI’s Committee on Public and Government Financial Management (CPGFM), aims to strengthen audit officers’ skills through structured training programs starting in May 2025. The training will focus on areas such as accounting standards, auditing standards, and the use of IT tools in PSU audits, ensuring audit officers are prepared for evolving industry standards. ICAI’s President highlighted the significance of the initiative in contributing to national development through knowledge sharing and technical expertise.

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