Members of the Public Accounts Committee of Parliament are elected for a term of:

Members of the Public Accounts Committee (PAC) are elected by Parliament every year, so their term of office is one year.

Composition of the PAC:

• The committee has 22 members: 15 from the Lok Sabha and 7 from the Rajya Sabha.
• Members are elected from among the members of Parliament by means of the single transferable vote.
• This ensures that all parties are fairly represented.

History of the PAC:

• The PAC was first set up in 1921 under the Government of India Act, 1919 (Montagu-Chelmsford Reforms).
• It is the oldest of the financial committees of Parliament.

Chairman of the committee:

• The chairman is appointed by the Speaker of the Lok Sabha from among its members.
• For many decades, by convention, the chairman has been chosen from the opposition, which strengthens the committee's role as a watchdog.

Functions of the PAC:

• It examines the annual audit reports on the accounts of the Union government, which are laid before Parliament.
• It checks whether the money granted by Parliament has been spent within the scope of the demand and for the purposes intended.
• It examines cases of waste, loss, corruption, inefficiency or nugatory expenditure.
• It also examines the accounts of state corporations, trading concerns and autonomous bodies whose accounts are audited on behalf of Parliament.

Role of the auditor:

The national audit authority assists the committee closely and is often described as its friend, philosopher and guide.

Limitations:

• The PAC does a post-mortem examination of accounts, after the money has been spent.
• It cannot intervene in matters of policy.
• Its recommendations are advisory and not binding on ministries.

Why not the other options?

• ✗Two, three and five years are not the term of PAC members.