The Comptroller and Auditor General (CAG) of India has signed a Memorandum of Understanding (MoU) with the Indian Institute of Management (IIM) Mumbai to launch a specialised training programme aimed at enhancing the auditing skills of CAG officials.
Under this collaboration, CAG officials will undergo structured training sessions at IIM Mumbai, incorporating classroom learning, case study analysis, and interactive sessions with industry experts. “To achieve this, CAG of India and IIM Mumbai will design and implement training programs for audit officers, focusing on the latest concepts in supply chain, logistics, and inventory management,” the MoU noted. Participants will receive certification from IIM Mumbai upon completion, and those trained will further impart knowledge to other CAG personnel.
The MoU also outlined research initiatives to assess auditing effectiveness and improve sector-specific methodologies. “This collaboration aims to strengthen audit practices by developing sector-specific methodologies that can be applied to Central and State Public Sector Undertakings (PSUs) and various Government departments,” the MoU stated. Additionally, IIM Mumbai will provide consultancy services to CAG offices as needed, with financial considerations determined on a case-by-case basis.
To facilitate knowledge exchange, a series of workshops, roundtable discussions, and plenary sessions featuring international experts will be organised. “These sessions will feature renowned international professors and industry leaders, providing audit professionals with exposure to cutting-edge research, risk assessment techniques, and emerging trends in supply chain and logistics,” according to the MoU. The agreement also includes provisions for international collaboration with global auditing institutions to enhance training modules and auditing methodologies.
An apex body, comprising representatives from CAG and IIM Mumbai, will oversee the implementation of the MoU and address managerial and financial matters. “An apex body with Deputy Comptroller and Auditor General, CAG, and IIM Mumbai or their representative as members shall monitor the implementation of this MoU and provide decisions on managerial and financial matters,” the MoU specified.
The agreement also allows for periodic reviews and amendments based on mutual consent. “If necessary, the MoU review process can be done yearly or when mutually agreed,” it stated.
Professor Manoj Tiwari, Director of IIM Mumbai, explained that the institute aims to train CAG officials to reduce the logistics cost, among others. “Currently, the cost of logistics at CAG is around 10 to 12%. Our target is to further reduce it to 8%,” he said. This, he said, will be achieved by training the CAG’s manpower to build multi-modal parks for cargo handling and educating them about all the nuances of the logistics sector.
