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In addition, CPA firms that perform local government financial audits that include an A-133 "single audit" must follow yellow book standards. In addition to financial audits, the Yellow Book standards cover Performance Audits, which evaluate the performance of a program or project against defined objectives, such as objectives for efficiency ...
Its central civil servants serve in an audit managerial capacity in the Indian Audit and Accounts Department (IA&AD), and are responsible for auditing the accounts of the Union government and state governments, as well as their public commercial enterprises and non-commercial autonomous bodies. [6]
This local government structure extends up to the district level. The urban local government is commonly referred as "urban local bodies" (ULBs). Municipal corporations, municipal councils, and nagar panchayats are examples of urban local bodies responsible for managing local affairs, such as infrastructure development, public health, and ...
The primary bodies in each country are affiliated to the International Federation of Accountants while a few do not belong to IFAC as they operate more like specialist bodies helping the work of accountants and auditors such as the field of taxation, forensic auditing and systems auditing. These bodies include:
It was the 74th amendment to the Constitution of India in 1992 that brought constitutional validity to municipal or local governments. Until amendments were made in respective state municipal legislations as well, municipal authorities were organised on an ultra vires (beyond the authority) basis and the state governments were free to extend or control the functional sphere through executive ...
Anybody or authority even though not substantially financed from the Consolidated Fund, the audit of which may be entrusted to the CAG. Grants and loans given by Government to bodies and authorities for specific purposes. Entrusted audits e.g. those of Panchayati Raj Institutions and Urban Local Bodies under Technical Guidance & Support (TGS).
The urban local bodies act as platform between the people in the urban areas and the administration. According to 2011 census of India, Tamil Nadu has about 48.45% of total population living in urbanised areas. [11] Depending on the population and income of the urban local bodies, they are further classified into three categories. [12]
A supreme audit institution is an independent national-level institution which conducts audits of government activities. [ 1 ] [ 2 ] Most supreme audit institutions are established in their country's constitution, and their mandate is further refined in national legislation. [ 3 ]