Supreme Audit Institutions (SAIs)

About Supreme Audit Institutions (SAIs):

• They are public oversight institutions which audit a government’s use of public funds.
• They are a critical link in a country’s accountability chain.
• By scrutinizing public financial management and reporting they provide assurance that resources are used as prescribed.
• Most SAIs derives their mandate from the constitution and/or legislation.
• SAIs undertakes financial audits of organizations’ accounting procedures and financial statements, and compliance audits reviewing the legality of transactions made by the audited body. 
• They also conduct performance audits to scrutinize the efficiency, effectiveness or economy of government’s undertakings.
• The Comptroller and Auditor General (CAG) of India is India’s SAI.

INTOSAI – International Organization of Supreme Audit Institutions:

• It is an autonomous, independent and non-political organization.
• It operates as an umbrella organization for the external government audit community.
• It has special consultative status with the Economic and Social Council (ECOSOC) of the United Nations.
• It works to promote auditing standards, good governance of SAIs, and SAI independence, among other work.
• Structure:
  • The International Congresses of Supreme Audit Institutions (INCOSAI) is the supreme organ of INTOSAI and is composed of all the members. On a triennial basis, it holds regular meetings, which is chaired by the hosting SAI.
  • The INTOSAI Governing Board meets annually to provide strategic leadership, stewardship, and continuity of INTOSAI activities between INCOSAI.
  • The CAG of India is a member of the Governing Board of the INTOSAI.