"...as the Speaker (Lok Sabha) is present here, I would also like to put the opportunity of sharing my concern that not adequate time we are devoting in Parliament while sanctioning money, while imposing taxes, before scrutiny of the law, before scrutiny of expenditure proposals despite the establishment of institutional arrangement like Parliamentary Standing Committee are not taking place before the passage of the Finance Bill," he said.
"Therefore, much more time are required to be devoted either for legislations and for sanctioning money dealing with the financial transactions and both Chairman PAC (Public Accounts Account) and Speaker may ponder over and find a practical solution to achieve this objective," he said at the inauguration of Accountant General conference here.
The President said many studies has been conducted by Parliament itself indicated the time devoted for legislations in the first, second, third and fourth Lok Sabha for disposing off financial matters were much more compared to the later Parliaments.
"Therefore, I do feel that time has arisen to take some corrective courses. As it has been correctly pointed out by Speaker, Parliament has three important committees – PAC, Estimated committee, committee on public undertakings through which Parliament can exercise control not only over the policies, but also how the money was spent, how the resources are utilised, how the resources are mobilised," he said.

Comptroller and Auditor Generals (CAGs) have been appointed by the executives. "But without any exception all the CAGs up to now have shown exemplary courage and administrative skill acumen and integrity not to succumb to the pressures of the executives, if there be any," Mukherjee said.
He said audit institutions play an enabling role in ushering in good governance in democratic functioning.
The PAC, Estimates Committee and Committee on Public Undertakings reports to Parliament so that Parliament can take effective steps.
"Effective functioning of these three legislative committees and close association between them and the audit authority are a blueprint of audit effectiveness," he said.
Mukherjee said accountability of public functionaries is an integral part of any good governance framework, more so in a democratic polity.
"In a parliamentary democracy like ours, the executive is held accountable to the legislature. The reports of the CAG submitted to the legislature play a seminal role in the enforcement of accountability," he added.
Mukherjee said as 'Digital India' becomes the backbone of government functioning, it calls for transformation in the traditional methods of audit.
Speaking on the occasion, Lok Sabha Speaker Sumitra Mahajan said to encourage reform and innovation, CAG reports should also highlight best practices and notable achievements of an organisation.
"We are not for criticism only, but for appreciation also. There is a need for audit to adopt balanced approach so that while highlighting non compliance innovations and initiatives is not discouraged. CAGs report should not become an instrument for verification and public finger pointing," she said.

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