The Public Account Committee was formed by the Government of India Act, 1919 in 1921. The Public Account Committee is a financial committee constituted by Parliament every year to examine the annual reports submitted by the Comptroller Auditor General (CAG) and report its finding to the Parliament. It is formed every year with a strength of not more than 22 members of which 15 are from Lok Sabha and 7 from Rajya Sabha. The term of the office of the members is one year. The chairman of the committee is appointed by the the Speaker of the Lok Sabha.