In India, other than ensuring that public funds are used efficiently and for intended purpose, what is

the importance of the office of the Comptroller and Auditor General (CAG)?

• 1. CAG exercises exchequer control on behalf of the Parliament when the President of India declares national emergency/financial emergency.

• 2. CAG reports on the execution of projects or programmes by the ministries are discussed by the Public Accounts Committee.

• 3. Information from CAG reports can be used by investigating agencies to press charges against those who have violated the law while managing public finances.

• 4. While dealing with the audit and accounting of government companies, CAG has certain judicial powers for prosecuting those who violate the law.

Which of the statements given above is/are correct?