<span style="color: #222222;">Lok Sabha Speaker Om Birla on Thursday said CAG is among the most effective and prestigious audit institutions in the world. He was addressing the valedictory session of Audit Day and Auditors' Conference in New Delhi. He added that the discussions and positive suggestions on CAG reports within the House and Parliamentary Committees strengthen nation's democracy. Mr Birla expressed happiness that the CAG report is discussed in the House going beyond party lines and decisions are taken in the interest of the nation.<br />''<br />''On the role of the CAG, the Speaker said that the Constitution has given it a comprehensive and dynamic role and has ensured that its allegiance is only to the Constitution and the nation. He noted that the CAG assures all stakeholders that government funds are being used efficiently and for the intended purpose only. Expressing satisfaction, Mr Birla said that CAG is the world's leading audit body because of its best practices and is known all over the world for presenting independent, reliable, balanced and timely reports related to public finance and governance.<br />''<br />''Regarding the increasing role of CAG in the changing scenario, Mr Birla observed that the importance of CAG reports and the relevance of audit have increased in the country. He added that the CAG has an outsider viewpoint while assessing the working of the government, which leads to financial savings and efficient planning. Describing transparency and accountability of governance as the cornerstone of parliamentary democracy, Mr Birla opined that effective and efficient use of public money is the aim of both Parliament and Government.</span><br />