CURRENT AFFAIRS

Detailed explanation-1: -Finance Secretary N. Muruganandam on Wednesday said Tamil Nadu was the first State to create the role of Director General of Audit, and has hired an officer from the Indian Audit and Accounts Service on deputation, for this.

Detailed explanation-2: -Tamil Nadu was the first State to create the role of Director General of Audit to oversee all audit departments. The Director General of Audit (DGA) is responsible to strengthen and streamline the functioning of internal audit departments.

Detailed explanation-3: -The Primary function of the Directorate General is to provide policy support to the working of Audits in field formations. As such no information is available in electronic form apart from the Audit Manuals prepared and circulated internally by the Directorate General.

Detailed explanation-4: -The early Egyptians and Babylonians created auditing systems, while the Romans collated detailed financial information. Some of the first accountants were employed around 300 BC in Iran, where tokens and bookkeeping scripts were discovered.