Introduction

The accounts of Government Companies (including companies deemed to be Government Companies as per the provisions of the Companies Act) are audited by the CAG under Section 139 and 143 of the Companies Act, 2013. The accounts certified by the Statutory Auditors (Chartered Accountants) appointed by the CAG under the Companies Act are subject to supplementary audit by officers of the CAG and the CAG gives his comments or supplements the reports of the Statutory Auditors. In addition, these companies are also subject to test audit by the CAG. Reports in relation to the accounts of a Government Company or Corporation are submitted to the Government by the CAG for laying before State Legislature under the provisions of Section 19-A of the Comptroller and Auditor General’s (Duties, Powers and Conditions of Service) Act, 1971. 

Consequent upon restructuring of Audit offices in the year 2012, the audit of seven departments (as given in Introduction) including PSUs and Autonomous bodies were entrusted to Audit Management Group-III (Earlier referred as Commercial Audit wing). Apart from these the Financial Audit of all the PSUs coming under Pr.AG (E&RSA) is being conducted by this wing.
At present AMG-III wing is operating with three Sections viz AMG-III (Coordination), AMG-III (Vetting), and AMG-III (Report).