Analytics has become of utmost importance for every organizations in order to be successful. It is the right use of data analytics which in the near future will differentiate successful organization from unsuccessful companies. The Comptroller and Auditor General (CAG) of India, Shri Shashi Kant Sharma does recognize the importance of data analytics and the opportunities it presents.
Few months back, in July, AIM had made its readers aware about the Comptroller and Auditor General (CAG) of India’s plans of setting up a Data Analytics Centre. The idea has become reality now with Shri Shashi Kant Sharma inaugurating the Centre for Data Management and Analytics (CDMA) in New Delhi on 6th September.
A brainchild of Shri Shashi Kant Sharma, this center is poised to be the first of its kind. The center aims to analyze big data of the government and provide valuable insights to the government. This data analytics center will synthesize and integrate all the appropriate data required for the purpose of auditing.
As per the Comptroller and Auditor General (CAG) of India, the CDMA center will play a catalytic role for integration of relevant data into auditing process. Also a center like this will enhance the efficiency and accuracy of evidence in the audit process. CDMA will be a game changer in the field of public audit according to Shri Shashi Kant Sharma.
The aim of establishing a Center like this is to build capacity in the Indian audit and accounts department in the space of big data analytics. The idea is to make use of the treasure of data which rests with the union and state government to gain valuable insights from it. This initiative of using data analytics for auditing purpose has been started with the focus of developing in-house analytics capacity covering the entire workforce under the Comptroller and Auditor General (CAG) of India
CDMA aims at being equipped with latest analytic tools and infrastructure to provide support and guidance to the data analytic groups which will be present across all the audit offices of CAG in the entire country. This will be achieved by establishing the data management protocols and navigating the data analytic capacity of the department.
Before establishing the CDMA, Shri Shashi Kant Sharma had introduced a Big Data Management Policy pertaining to the Indian Audit and Accounts Department. To study the policy document, a task force was appointed. Post a thorough study, the task force made recommendation of setting up the CDMA center in May 2016.
An initiative like this by the CAG of India is definitely a revolutionary step in the field of government audit and in the international audit community. He is a pioneer in institutionalizing data analytics in the space of government audit. Shri Shashi Kant Sharma, apart from his role as CAG of India, is also a member of an international project on ‘Data Analytics’ under the Working Group on IT Audit of International Organisation for Supreme Audit Institutions.