Centre of Excellence for Financial Audit Inaugurated in Hyderabad

The CoEFA has been opened to realise the vision of the Comptroller and Auditor General (C&AG) 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.

Anchored in the constitutional mandate of the C&AG of India to ensure accountability and transparency in public expenditure, the CoEFA seeks to operate as a hub for research, innovation, policy support and capacity building. It would support auditors, audit institutions and other stakeholders in developing the skills, tools and knowledge required to navigate the increasingly dynamic financial governance environment.

The vision of the CoEFA is “to be recognised as a Centre of Excellence for Financial Audit of Public Sector Enterprises (PSEs), Autonomous Bodies (ABs) and Urban Local Bodies (ULBs) by effectively combining digital innovation with human expertise and institutional experience - evolving into a world class centre for audit research, analytical insights and capacity development.”

The C&AG of India also unveiled the official logo and board of the CoEFA on this occasion. The website template with the features of CoEFA was also demonstrated to the C&AG of India, by the CoEFA team.