CAG Inaugurates CoEFA to Modernise Financial Audits with Technology

The Comptroller and Auditor General of India, K Sanjay Murthy, on Wednesday inaugurated CoEFA here to drive the modernisation of financial audits through advanced technologies, including data analytics, research and capacity building.

Murthy said the Centre, established under the Director General of the National Academy of Audit and Accounts (NAAA), Shimla, will strengthen the academy’s capabilities in the crucial area of financial auditing.

The Centre of Excellence for Financial Audit will focus on delivering faster and more efficient financial audits using technology, he said.

“This will be the fourth specialised centre under the department, after the ones in Noida, Jaipur and Rajkot, which focus on IT audits, environmental audits and local body audits. This centre will concentrate on financial audits,” Murthy told reporters.

He added that the centre is expected not only to support audit academies across the country but also to play a leadership role in building capacity for international institutions.