47th Civil Accounts Day: The Civil Accounts Day was observed on March 1st to commemorate the 47th anniversary of the Indian Civil Accounts Service (ICAS). The Indian Civil Accounts Service was constituted in 1976, after the the maintenance of Accounts of the Union government was separated from that of Audit. Consequently, the Comptroller and Auditor General of India was divested with this responsibility.
February 2023 Current Affairs Quiz
On March 1, 1976, the President promulgated two Ordinances, the Comptroller and Auditor General’s (Duties, Powers, and Conditions of Service) Amendment Ordinance, 1976 and the Departmentalisation of Union Accounts (Transfer of Personnel) Ordinance, 1976, to begin the process of separating accounts from audit and paving the way for departmentalised accounts. Consequently, every year on 1st of March, organization celebrates its foundation day.
The Office of the Controller General of Accounts is the principal accounting advisor to the Government of India and oversees the country’s payment and accounting system. The organization ensures financial accountability through accounts and helps the executive in decision making. The organization’s mission is to run an efficient, reliable, and accountable budgeting, payment, accounting, and pension disbursement system. It aims to provide a world-class and robust government-wide integrated financial information system and decision support system (DSS) across ministries.
About the Indian Civil Accounts Service:
The Indian Audit & Accounts Service (IA & AS) was initially separated from the ICAS through the promulgation of an Ordinance amending the C & AG’s (Duties, Powers, and Conditions of Service) Amendment Act, 1976. Later, the Departmentalisation of Union Accounts (Transfer of Personnel) Act, 1976 was enacted and came into force on 01 March 1976, following which the ICAS celebrates March 1 every year as the “Civil Accounts Day”. ICAS assists the Government of India in the delivery of financial management services such as payment services, supports the tax collection system, performs government-wide accounting and financial reporting functions, prepares budget estimates, and conducts internal audits in civil ministries of the Union Government.
Important takeaways for all competitive exams:
Comptroller and Auditor General of India: Girish Chandra Murmu
