Consider the following statements: The Parliamentary Committee on Public Accounts 1. consist of not more than 25 members of the Lok Sabha. 2. examine public expenditure not only from a legal and formal point of view to discover technical irregularities but also from the point of view of the economy, prudence, wisdom and propriety. 3. examine the report of the Comptroller and Auditor General of India. Which of the statements given above is/are correct? Correct Answer 2 and 3 only The correct answer is 2 and 3 only. Important Points 'Public Accounts Committee' is the committee to audit the expenses of the Government of India. In this committee, it consists of 22 members, out of which 15 members are from Lok Sabha and 7 are from Rajya Sabha. Its members are elected by a single transferable vote system. The Chairman of the Public Accounts Committee is a member of the opposition party. This committee examines the annual reports of the CAG, which are presented to the Parliament by the President. Hence statement 3 is correct. The committee examines public expenditure not only from a legal and formal point of view to discover technical irregularities but also from the point of view of the economy, prudence, wisdom and propriety. Hence statement 2 is correct.