Friday, November 28, 2008

Auditors on the Sports Page!

The Indian Audit and Accounts agency is on the sports page of The Hindu for capturing both the men’s and women’s titles in the 10th National inter-institutional carrom championship. What is carrom? And? The Indian Audit and Accounts? The Indian Audit and Accounts has a history of over 140 years. In 1860 the Government Accounting and Auditing functions were amalgamated and placed under the Auditor General of India. That made me curious about the U.S Government Accountability Office (GAO). Here is a history of the GAO. Excerpts from that history are below.

"The first Congress passed the Treasury Act of 1789, creating the Treasury Department with a Secretary, a Comptroller, an Auditor, a Treasurer, and a Register. The Comptroller of the Treasury was the predecessor of the modern Comptroller General."

"After debating in 1919 and 1920 whether accounting and auditing functions should remain in the executive branch, the Congress eventually decided to create GAO “independent of the executive departments.” And, "Title III of the Budget and Accounting Act of 1921 abolished the Office of Comptroller of the Treasury and established the positions of Comptroller General and Assistant Comptroller General..."

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