The Comptroller and Auditor General (C&AG) of India, KSanjay Murthy, on Wednesday inaugurated the Centre of Excellence for Financial Audit (CoEFA) at the Accountant General’s Office Complex in Hyderabad.

The launch aims in strengthening India’s public audit ecosystem, with the Centre envisioned as a hub for innovation, research and capacity building in financial auditing.

The event was attended by Deputy C&AG (Commercial & Report Central) Anand Mohan Bajaj, Additional Deputy C&AG and Director General of the National Academy of Audit and Accounts (NAAA) S Alok, along with senior officials of the Indian Audit and Accounts Department. On the occasion, the C&AG unveiled the official logo and board of CoEFA, while the team demonstrated the website template showcasing its features.

CoEFA has been established to transform financial audits of Public Sector Enterprises, Autonomous Bodies and Urban Local Bodies by integrating Artificial Intelligence, Machine Learning and data-driven tools into audit practices.

Anchored in the constitutional mandate of the C&AG to ensure transparency and accountability in public expenditure, the Centre seeks to combine digital innovation with human expertise and institutional experience.

It aims to evolve into a world-class institution for audit research, analytical insights and professional development, supporting auditors and institutions in navigating the increasingly complex financial governance environment.

The facility has been inaugurated at the temporary premises of the erstwhile Regional Capacity Building and Knowledge Institute in Hyderabad. It will function under the NAAA, Shimla, which is the premier training institute of the IA&AD, while the technical control of its operations will rest with the Commercial Audit Wing at C&AG headquarters. The C&AG emphasised that the Centre would act as a knowledge-driven platform to raise the bar for public sector auditing in India and beyond.

The launch was marked with the signing of a Framework Agreement between CoEFA of NAAA and the Institute of Chartered Accountants of India (ICAI). The agreement, signed by ICAI Vice-President CA Prasanna Kumar D and DG NAAA S. Alok, aims to foster collaboration in training, research and joint publications in the field of financial auditing, financial analysis of PSEs, audit of Autonomous Bodies and Urban Local Bodies.

This builds upon the earlier MoU signed in April 2025 between the C&AG and ICAI, further leveraging ICAI’s expertise in commercial accounting and financial auditing to enhance institutional capacity.

To mark the occasion, the C&AG also inaugurated CoEFA’s first capacity-building two-day workshop on the Companies Act, 2013, in collaboration with the Regional Capacity Building and Knowledge Institute, Mumbai.

The programme, designed for IA&AS Officers, Senior Audit Officers and Assistant Audit Officers, highlights the importance of the Companies Act as the foundation of corporate governance in India. As the first initiative under CoEFA’s training framework, the workshop represents a significant step in strengthening institutional capability and reaffirming the commitment to professional integrity within India’s public audit ecosystem.