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Role Of Cag In Accounting And Auditing In India Pdf

role of cag in accounting and auditing in india pdf

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Comptroller and Auditor General (CAG): Powers, Functions and Responsibilities

Please visit our Cookie Policy page for more information about cookies and how we use them. During this time the best way to contact staff of the Office is via email. You can also contact the Office at the following email address: webmaster audit. The Office is pleased to publish our statement of strategy covering the period to The strategy is intended to provide a roadmap for the development of the Office over the coming years, for the benefit of the general public, the Oireachtas, the bodies we audit and our staff. The Office of the Comptroller and Auditor General has developed as part of its Audit Insights programme this document to assist management and audit committees when considering the impact that the Covid pandemic has had on the control environment of public sector organisations. Our mission is to provide independent assurance that public funds and resources are used in accordance with the law, managed to good effect and properly accounted for and to contribute to improvement in public administration.

The Regulations were subsequently amended vide Notification No. When used as a noun, it refers to Audit Department as a whole or any part thereof as per context;. Such apex entities are distinguished from audit units and implementing units with regard to their responsibilities relating to policy formulation and oversight. In certain cases, however, certain entities e. Boards, Bodies or Authorities, Government companies, corporations etc where though classified as audit units, may possess the necessary characteristics of an apex auditable entity in respect of a particular function.

[UPDATE] CAG Recruitment 2021: 10,811 Openings Announced for Auditors, Accountants

He is the head of the Indian Audit and Accounts Department. He is the guardian of the public purse and controls the entire financial system of the country at both the levels- the centre and state. His duty is to uphold the Constitution of India and the laws of Parliament in the field of financial administration. It is for these reasons Dr. B R Ambedkar said that the CAG shall be the most important Officer under the Constitution of India and his duties are far more important than the duties of even the judiciary.

Accounting means maintaining a proper record of the finances of the organisation. Maintenance of accounts is the function of the spending authorities or the executive. Proper maintenance of accounts also show the legal use of funds, and on the basis of Account report, the spending officers justify expenditure to the superiors. Through a proper system of accounting wrongful use of funds can be prevented. Accounting has to ensure that funds have been legally used for the purpose for which the Parliament sanctioned it.

Role of the CAG in audit of Panchayati Raj Institutions and Urban Local. Bodies Audit and Accounts Department under the Comptroller and Auditor General.

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Office Of The Comptroller & Auditor General

He is empowered to Audit all receipts and expenditure of the Government of India and the State Governments , including those of autonomous bodies and corporations substantially financed by the Government. The CAG is also the statutory auditor of Government-owned corporations and conducts supplementary audit of government companies in which the Government has an equity share of at least 51 per cent or subsidiary companies of existing government companies. The CAG is also the head of the Indian Audit and Accounts Department, the affairs of which are managed by officers of Indian Audit and Accounts Service , and has 43, employees across the country as on In CAG was relieved from accounting functions. The former Lt. Murmu is the current CAG of India. He is the 14th CAG of India.

He is the head of the Indian audit and accounts department. He is the guardian of the public purse and controls the financial system of the country both at the central level and state level. In for the first time, a separate department was set up for auditing and accounting transactions under the East India Company. Article speaks of the CAG, his appointment, the oath of his service. Article broadly speaks of the duties and powers of the CAG.

The act made CAG responsible for both accounting and auditing duties for central and state governments. In CAG was relieved from accounting functions.

The first Auditor General Sir Edward Drummond was appointed in and had both accounting and auditing functions. Departments of Accounts and Audit were created reorganized in This Act is a landmark in the history of the Audit Department as the Auditor General came to be statutorily recognized. Through the Government of India Act of , he was designated as the Auditor General of India and was appointed by the King of England, thereby cementing the independence enjoyed by the post in the years to follow. The Government of India Act, also laid down the provisions for appointment and service conditions of the Auditor General.

The Comptroller and Auditor General of India is inviting over 10, applications for auditors and accountants. The last date to apply is February 19, We apologise for the error and request readers to disregard this notification. The CAG has released a notification in this regard on its official website.

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An Introduction to Indian Government Accounts and Audit - Fifth Edition

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Functions and Role of Comptroller and Auditor General of India

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  1. Faustin L.

    18.04.2021 at 12:53

    Short title.

  2. Artemisa I.

    21.04.2021 at 07:39

    Auditing Standards were first issued by the Department in

  3. Milwaukee A.

    22.04.2021 at 08:50

    understand the origin and constitutional position of CAG; describe the duties of CAG in respect of Accounts and Audit; and analyse the role of CAG in Indian.

  4. Frank R.

    22.04.2021 at 19:23

    Qr code generator free online pdf water and wastewater management pdf

  5. Don R.

    26.04.2021 at 15:08

    Appointment of CAG; removal (similar to Supreme. Court Justice); not eligible for further office. · Conditions of service of staff of Indian Audit and. Accounts.

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