CAG’s (DPC) Act, 1971 Introductory- Provisions of Art. 149& 151 Of the Constitution of India deal with Functions of CAG. Up to 1971 CAG continued to perform.

Slides:

Advertisements

Similar presentations

Provisions.of Companies Act governing audit of Government Companies 1. Introduction & Basic Concepts The word 'Company' is an amalgamation of the Latin.

Advertisements

Auditing, Assurance and Governance in Local Government

Appendix B* AFGE National Constitution Standard Local Constitution * Only Articles of the Constitution that are related to the Financial Officers are Covered.

KR Sriram Principal Accountant General (Economic & Revenue Sector Audit) Andhra Pradesh.

Japan Audit & Supervisory Board Members Association (JASBA) Explanatory Memorandum on the Audit & Supervisory Board Members (The companies with Audit &

S1: Introduction Financial Audit A course for Audit Staff (Sr.AOs, AAOs & SOs)

Financial Audit Autonomous Bodies Legal framework for Audit Session Financial Audit of Autonomous Bodies.

AUDIT OF CO-OPERATIVE SOCIETIES 1SIMON RODRIGUES & ASSOCIATES.

Session Title Internal Control This session dwells on macro-level discussion on system of Internal Control of ULBs. The micro-level discussions have been.

Committee For Cooperatives & NPO Sectors An Overview of Financial Audit for MGNREGA.

A PAPER ON BUDGETING AND BUDGETARY CONTROL PRESENTED TO SONU OFFICIALS 24 th April 2015 BY M KARUE Finance Officer.

Value Added Tax S 6R.T.I.Jammu 1 Introduction to Value Added Tax Audit.

THE RIGHT TO INFORMATION ACT – 2005 (Central Act No.22 of 2005) K. Ambarish, IAS., (Retd.) Chief Consultant, AMR-APARD Rajendranagar, Hyderabad.

Certification of Accounts. Certification of accounts » Audit Report on Financial (Attest) Audit is about expression of Auditor’s Opinion on the Financial.

10 th ASOSAI Research Project “Audit to Detect Fraud and Corruption ： Evaluation of the Fight against Corruption and Money Laundering” SAI India.

The Payment Of Bonus Act, 1965

PAD190 PRINCIPLES OF PUBLIC ADMINISTRATION

Understanding Financial Management

COST AUDIT COST AUDIT BRANCH (CAB) OF MINISTRY OF CORPORATE AFFAIRS CAB IS MANNED BY OFFICERS OF ICAS DEALS WITH MATTERS FALLING UNDER SEC. 209 (1) (d)

Good practices from and for the EU accountability process Irena Petruškevičienė Vilnius, 17 October 2006.

Duties and Powers of the Comptroller and Auditor General of India.

1 GUIDING PRINCIPLES FOR AN OFFICER High standards of financial propriety Financial Economy Observance of Financial Rules and Regulations Expenditure within.

Safety of Policy Holder’s Money in ULIP plans. 2 ????

Slide 6.3 Whether BSNL is a Govt. Company ? If yes, under what provisions? Sec.617 of Indian Companies Act defines that any company in which not less than.

Session IX: Indian Government Accounting Standard- 2 (IGAS-2) Accounting and Classification of Grants-in-aid.

Preparation of Financial Statements An insurer shall prepare the Revenue Account [Policyholders’ Account], Profit and Loss Account [Shareholders’ Account]

SAI India Country Report

Zambia Overview Cont. Zambia Overview Zambia has an estimated Population of 12 – 14 million people and the following are some major economic indicators.

RTI, MUMBAI / DAY 1 / Slide WELCOME TO A TALK ON… AUDITING STANDARDS.

S21: Reporting. Audit Reporting » The main objective is to ensure clear and informative reporting to the users of financial statements. » Audit Reports.

Compliance Audit Subcommittee Reporting Work Plan Copenhagen, Denmark 6th of May 2010.

1 Regional Training Institute, Ranchi Structured Training Courseware on State Receipts Audit Overview of State Receipts Audit.

1www.safeecollege.com CHAPTER 1A Government Companies.

RTI, Jaipur AUDITING STANDARDS. RTI, Jaipur Introduction Audit Mandate - CAG’s (DPC) Act 1971 prescribes functions, duties and powers of SAI Audit Mandate.

S1: Introduction Financial Audit A course for IA&AS Officers.

AUDIT OF DIRECT TAXES DAY 1 Session 1 Slide 1.1 Constitutional Provision Under Article 149 of the Constitution and under the C&AG (duties, powers and.

A PAPER ON BUDGETING AND BUDGETARY CONTROL PRESENTED TO SONU OFFICIALS 28 th May 2013 BY M KARUE Finance Officer.

1. Object and Usefulness of Secretarial Audit “Secretarial Audit of a company conducted by a Practising Company Secretary on the same lines as financial.

COMPANIES ACT,2013 section 143 Advocate Arun Saxena Saxena & Saxena Law Chambers Advocates & Attorneys , New Delhi House, 27, Barakhamba Road, New.

CHAPTER 1B Branch Audit. Qualification of Branch Auditor Branch Office In India Outside India If branch is.

Page 1 The statutory framework for financial oversight Select Committee on Finance, 13 April 2010 Annexure B.

M O N T E N E G R O Negotiating Team for the Accession of Montenegro to the European Union Working Group for Chapter 6 – Company Law Bilateral screening:

Presented by: Sharon Pender Louisiana State PTA Treasurer.

ARTICLES OF ASSOCIATION

GENERAL SYSTEM OF FINANCIAL MANAGEMENT (Including General Principles of Expenditure & Payment)

1. 2 Definition by International Auditing Practices Committee –  “The independent examination of financial information of any entity, whether profit.

Duties and Powers of the Comptroller and Auditor General of India RTI, Allahabad1DPC Act.

CONCEPT & SIGNIFICANCE OF AUDIT CONTD… DEFINITION OF AUDIT The Institute of Chartered Accountants of India in its publication, General Guidelines on Internal.

An exposure to COMPLIANCE AUDIT By- Vishal Chawre DAG(A/c & VLC) O/o AG(A&E), Nagpur.

1 GUKEYEH GUK’EH GU’SANI Kaska Dena Government Finance Act Prepared for Presentation to Annual General Assembly August 12, 13 and 14, 2008.

Disciplinary proceedings plays very important role to activate the administration. It is an exercise which enables the employer to go through for the purpose.

AN OVERVIEW OF SAI, INDIA. Vision of SAI, India We strive to be a global leader and initiator Of national and international best practices in public sector.

Overview of Standards on Cost Auditing By: CMA Pradip H.Desai.

Session 1 RTI, Allahabad 1. Ice-breaking  Participants are welcomed to the 05 days Training Programme. In this session adequate number of groups will.

Session 13 RTI,Allahabad 1. Learning Objective At the end of session, the participants should understand the underlying objectives of the VLC System Session.

Structure of Government Accounts

PUBLIC SECTOR ACCOUINTING LECTURE NOTES BY MR. S

DIPUL MANDOLE Pankaj Patil Chatan More

BFN 428 -Types of Pension Funds

Standardised PPT on GST

FUNCTIONS OF DIFFERENT LWMI OFFICERS & LEADERS

Administrative Law nd Year – Law Faculty

OFFICE OF THE AUDITOR GENERAL, NEPAL

Presentation on the Joint Standing Committee on Financial Management of Parliament 07 September 2016.

Role & Responsibilities

Monetary Policy.

By CMA R GOPAL MFM M. Phil., FCMA Practicing Cost Accountant

Regulatory Compliances and Financial Controls for MCSTs

PUBLIC ACCOUNTS COMMITTEE.

Structure of Government Accounts

Presentation transcript:

CAG’s (DPC) Act, 1971 Introductory- Provisions of Art. 149& 151 Of the Constitution of India deal with Functions of CAG. Up to 1971 CAG continued to perform functions as per Constitution and India (Audit and Accounts ) Order, 1936.

CAG’s Duties I ) Compilation and keeping of accounts and audit Provisions relating to Sns. 13 to 20, 23 & 24 pertain to AUDIT Sn 13. of the Act relates to audit of all expenditure out of Consolidated Fund of India, all States and UTI

Audit Of Expenditure includes -Audit against provision of Funds -Regularity Audit -Propriety Audit -Performance audit as per the new Performance Audit guidelines

DPC Act Cont.. Audit Report contains the totality of the accounts. There fore, audit of not only expenditure but also receipts shall be included Sn. 16 deals with the audit of receipts of Union, states

DPC Act Cont... Sn. 17 deals with audit of transactions of Stores and Stock of Department of Union and States,UTI.

DPC ACT Cont... Sn. 14 deals with audit of grants / Loans The loan or grant should be from Consolidated fund of India or States, UTI

DPC Act Cont…. Sn.15 -Audit of grants or loans given for any specific purpose from the consolidated fund to any body or authority not being a foreign body CAG to satisfy that the loan or grant given satisfies the conditions attached to the granting of such assistance

Audit of Govt. Companies Sn. 19 of the Act prescribes the details of Audit of Govt. Companies. Govt Company is defined in Sn. 617 of The Companies Act, Sn.619(2) of the Companies Act- Appointment of auditors of Govt. Companies

Audit of Govt. Companies Cont... Sn. 619(3) - CAG shall direct the manner in which account shall be audited Sn. 619(4) - CAG has power to comment upon or supplement the audit report of CAs Sn. 619(5)- CAG’S comments shall be placed before the AGM at the same time and in the same manner.

Audit of Statutory Corporations 1. Established by Parliament CAG shall audit the accounts of such corporations in accordance with the provisions contained in their Acts.

Estblished by States Sn. 19(3) of DPC Act enables the States to request the CAG to audit their accounts Only Parliament has the power to direct CAG to audit the accounts. Others have to request

Sn.20 of DPC Act Deals with audit of accounts of certain bodies or authorities not covered in earlier sections. Govt. shall consult the CAG for undertaking the audit. Terms and conditions shall also be settled between Govt. and CAG.

Cont... Section 16- It shall be the duty of CAG to Audit not only the expenditure but the receipts also. Section 16 deals with the audit of receipts. It specifies that the executive has to make safeguards to assess, collect and remit the revenues of the Union and the states

Cont... Section 17- CAG shall have authority to audit the accounts of Stores and stock of the Union and of the States. This is dealt with in Section 17 of the CAG’s DPC Act.

Cont…. Section 18- CAG shall have authority to inspect any Office of accounts under the control of union or State. For this, books and records can be called for where he wants. Any information can be called for by him or his representatives.

Cont... Miscellaneous Sections- CAG can delegate power to exercise his power by subordinates except the power of submission of CAG’s Report to the Parliament or State Legislature. Section 21

Cont... Section 22 Central Govt. in consultation with the CAG may make rules for maintaining the accounts

Cont... CAG can make regulations for carrying for audit of expenditure and receipts. He can decide about the extent and scope of audit. Section 23

Cont... Section 24 CAG can dispense with any part of detailed audit of any accounts or class of transactions and to apply such limited checks as he may deem fit.