HYDERABAD: Comptroller and Auditor General (CAG) of India K Sanjay Murthy launched the Centre of Excellence for Financial Audit (CoEFA) here on Wednesday.
Deputy CAG (Commercial and Reports Central) Anand Mohan Bajaj, Additional Deputy CAG and DG, National Academy of Audit and Accounts (NAAA) S Alok, along with other CAG officials were present on the occasion.
CoEFA has been launched to realise the vision of the Comptroller and Auditor General) of India towards establishing a Centre of Excellence to act as a knowledge-driven platform that seeks to transform the landscape of financial auditing in the public sector, with a focused mandate covering Public Sector Enterprises (PSEs), Autonomous Bodies (ABs) and Urban Local Bodies (ULBs).
As public finance systems continue to evolve in complexity and scale, the need for robust, Artificial Intelligence (AI) and Machine Learning (ML) based tools, technology-enabled and insight-driven auditing practices have never been more critical.
The Centre of Excellence aims to address this need by creating a forward-looking ecosystem that integrates cutting-edge digital tools, global best practices and human capital development to raise the bar for public sector auditing in India and beyond.