CAG’s Auditing Standards in India
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Questions and Answers

What was the year of release for the third edition of the Auditing Standards?

  • 2017 (correct)
  • 2016
  • 1994
  • 2002
  • Which chapter of the Auditing Standards covers the General Standards?

  • Chapter 1: Basic Postulates
  • Chapter 3: Specific Standards
  • Preface
  • Chapter 2: General Standards (correct)
  • In what year were the Auditing Standards first brought out by the Indian Audit and Accounts Department?

  • 1993
  • 2017
  • 1994 (correct)
  • 2002
  • Who is the author of the preface of the Auditing Standards?

    <p>Shashi Kant Sharma (A)</p> Signup and view all the answers

    Which edition of the Auditing Standards takes into account the prerequisites for functioning of the Supreme Audit Institution?

    <p>Third edition (D)</p> Signup and view all the answers

    Who appoints the Comptroller and Auditor General of India?

    <p>The President of India (D)</p> Signup and view all the answers

    What is the governing framework for both accounting and auditing functions in the Indian Audit and Accounts Department?

    <p>The Regulations on Audit and Accounts, 2007 (B)</p> Signup and view all the answers

    When did the CAG's Auditing Standards become effective?

    <p>1 April 2017 (B)</p> Signup and view all the answers

    What does Article 149 of the Constitution of India envisage regarding the duties of CAG?

    <p>Performing duties and exercising powers in relation to the accounts of the Union, States, and other authorities (D)</p> Signup and view all the answers

    What is the purpose of the CAG's (Duties, Powers and Conditions of Service) Act, 1971?

    <p>To prescribe the duties and powers of CAG (D)</p> Signup and view all the answers

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