Shri Vijayendra N. Kaul took over as Comptroller & Auditor General of India on 15 March 2002. Under his able stewardship, the Department has taken certain important initiatives. The establishment of the Government Accounting Standards Advisory Board (GASAB) at the behest and with the approval of Ministry of Finance is a landmark event in the history of public sector financial management in the country. The basic objective of this initiative is to promote best practices on the basis of generally accepted principles of Government accounting. In this issue, we have included the inaugural address by the C&AG of India and welcome speech from Chairperson of the Board. These would give an idea of the efforts that have gone into this endeavour.
We had issued an appeal earlier for sending material on defalcation cases detected in audit. We received good response. In this issue, we have featured two case studies of misappropriation and frauds unearthed by the audit teams of State Accountants General. The idea was to share the experience. We fervently hope we will continue to get good response to our appeals to contribute articles to your Journal.
JMT wishes all its readers a very happy, prosperous and professionally