WBXPress

You must be logged in to ask question. If you are New here, Register first (free). Then Login.

Central Audit & Local Audit

Home Forums Examination Guide Central Audit & Local Audit

  • This topic is empty.
Viewing 8 posts - 1 through 8 (of 8 total)
  • Author
    Posts
  • #67842
    unknown
    Spectator

      Q. What are the functions and duties of the Central Audit?
      OR
      What are the important points to be kept in view while conducting the Central Audit?
      OR
      “Central Audit is by and large regularity and propriety audit.” —Discuss.

      Duties and functions of the Central Audit are stated below:
      (i) Audit of Sanctions and Agreements etc.
      (ii) Audit of vouchers and monthly accounts,
      (iii) To be recorded all objections in the Objection Book and issue of objection memos and pursuance with the concerned Department.
      (iv) Scrutiny and certification of Finance Accounts and Appropriation Accounts.
      The principles laid down for regularity and propriety audit are kept in view while conducting central audit which are given below:
      Regularity audit
      (a) Sanction of making expenditure as per general or special order of competent authority.
      (b) Provision of fund authorised by competent authority.
      (c) Observing rules and regulations framed by the govt.
      Propriety audit
      (a) High standard of public financial morality
      (b) Sound financial administration
      (c) Devotion to the financial interest of the Govt.
      The following important points of vouchers are also “checked” by the audit.
      (i) Vouchers are in proper form and the sub-vouchers contain the receipt of payment with date.
      (ii) Details work upto total and that the totals are to be written in words and figure.
      (iii) Pay Order signed by the Treasury Officer where payment is made from Treasury or by the D.D.O. in other cases.
      (iv) Vouchers are stamped, paid and cancelled.
      (v) Erasing and over-writing are not admissible and that any alteration are attested by the concerned officer.
      (vi) Stamped Receipt is affixed where necessary. ,
      (vii) Except in cases in which it is specifically authorised no payment is made on a voucher or signed by a subordinate instead of the Head of Office himself.
      (viii) If the treasury voucher is paid by transfer, it Is stamped as having been paid.
      (ix) Deduction of Income Tax has been made as per rule.
      (x) Claim submitted beyond the time limit may be made subject to the approval of the Accountant General.

      #73898
      unknown
      Spectator

        Q. What is the purpose Local Audit?
        The main purpose of Local Audit is to conduct a test check of an account of a particular period and to verify the accuracy and completeness of accounts. It also looks into the following:
        (a) Verify the vouchers which are not sent to the audit office.
        (b) Entries in the local accounts are properly vouched.

        #73899
        unknown
        Spectator

          Q. What are the object of inspection of Local Audit?
          The primary objects of inspection of the Local Audit are given below:
          (a) The initial accounts are maintained in proper form and financial rules and regulations are being observed properly.
          (b) To test the degree of care by the departmental authorities responsible for keeping the accounts in accordance with the accuracy of original records.
          (c) The accounts and the vouchers which are not audited by the Central Audit, should be examined by audit.
          (d) Test Audit will verify the accuracy and completeness of accounts according to prescribed rules for the audit of expenditure and receipts.
          (e) There are two parts of inspection reports:
          (i) Important defects of procedure and financial irregularities and nature of financial control over transactions;
          (ii) Test Audit note dealing with errors and minor irregularities which are not important to inform higher authority.

          #73900
          unknown
          Spectator

            Q. How Inspection of Treasuries will be made by the Local Audit Party?
            Audit Officer of Local Audit Party of the Accountant General is also to inspect the Treasury particularly in the following matter:
            (i) The rules prescribed by the Govt. are properly understood and observed ;
            (ii) The procedure observed at Treasuries meets the requirement of audit and the accounts are properly maintained ;
            (iii) Orders regarding the custody and handling of cash and other valuables and control of balances are duly observed.
            (iv) There is no responsibility of the audit officer for physical verification of cash balance, stamps, opium etc.
            (v) The object of inspection of the audit officer to assist the Collector in establishing the system of Treasury Working as per prescribed rules and regulations.

            #74044
            unknown
            Spectator

              Q. How will Inspection of Public Works Division be made by the Local Audit?
              The primary objects of inspection are given below:
              (a) Audit of accounts and vouchers etc.
              (b) Examination of initial accounts including compilation of accounts from which the same has been made by the Divisional office of P.W.D.
              (c) Review the work of the Divisional Accountant including discharge of his duties with efficiency.
              Audit Officer does not merely continue himself to routine audit and inspection of works mentioned above. He will see to the following matters:
              (i) The Audit will examine one major work or two minor works regarding their completeness, progress and verification of accounts since the commencement of the work.
              (ii) The Audit will assist the Officer of the P.W.D. regarding maintenance of accounts and financial regularities with the suggestions bearing on economy of public money.

              #74045
              unknown
              Spectator

                Q. How will local audit party take up the audit of a particular institution?
                Before taking up the audit of a particular institution, the Audit Parly will study the following matters:
                (a) To ascertain a definite financial picture of the institution.
                (b) To study the system of accounts and book prescribed, and how far they fulfil the desired end.
                (c) To examine that the internal control procedures are adequate and economic.
                (d) To verify whether the scheme is running economically and efficiently for the various development programmes.

                #74046
                unknown
                Spectator

                  Q. How is audit of establishment charges conducted?
                  The audit will check the following matters :
                  (a) Pay and .Allowances, Overtime Allowances, T.A. Bill etc. will be checked by audit on the basis of records and the audit must be satisfied about the correctness of certificates on the basis of which the bill has been drawn and also see that the claims have been made as per rules and regulations framed by the Govt.
                  (b) The Checking of Service Book.
                  (i) The Service Book should be maintained for each staff.
                  (ii) All entries of the govt. employee in his/her official career have been made in the Service Book duly attested by the competent authority.
                  (iii) Alteration of the date of birth recorded in the Service Book is not admissible without sanction of a competent authority.
                  (iv) Entries in the first page should be re-attested every five years.
                  (v) The Annuul certificate of verification recorded in the Service Book subject to verification of the Acquittance Roll.
                  (vi) The Verification of the Service Book in respect of pay and increments.
                  (vii) No payment has been made to the employee beyond attaining the age of superannuation or expiry of terms of extension of the service.
                  (viii) Leave accounts including accounts of persons likely to retire or likely to complete 30 years Service will be checked in detail.

                  #74048
                  unknown
                  Spectator

                    Q. The Result of the Inspection by the Local Audit.—Describe.
                    There are two parts as under—
                    (a) More important defects of procedure and financial irregularities and a brief description of the general statement of the accounts and nature of the financial control over transactions are mentioned in the Audit Reports.
                    (b) Test audit note dealing with errors and minor irregularities which are not incorporated to the notice of higher authority, the same will be verified by the next audit party in respect of the result of the same.

                  Viewing 8 posts - 1 through 8 (of 8 total)
                  • You must be logged in to reply to this topic.