File Name: role of cag in accounting and auditing in india .zip
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.
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.
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.
Кольцо, - совсем близко прозвучал голос. Беккер поднял глаза и увидел наведенный на него ствол. Барабан повернулся.
Назад, или я сломаю… Рукоятка револьвера, разрезая воздух, с силой опустилась ему на затылок. Сьюзан высвободилась из рук обмякшего Хейла, не понимая, что произошло. Стратмор подхватил ее и слегка обнял, пытаясь успокоить. - Ш-ш-ш, - утешал он .
Он быстро подошел к ним и остановился в нескольких сантиметрах от дрожащего Чатрукьяна. - Вы что-то сказали.
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