Podcast
Questions and Answers
What is primarily examined during the regularity audit conducted by Central Audit?
What is primarily examined during the regularity audit conducted by Central Audit?
Which of the following is not a duty of the Central Audit as described?
Which of the following is not a duty of the Central Audit as described?
What is the main basis for conducting Central Audit?
What is the main basis for conducting Central Audit?
The system of Central Audit primarily takes place in which location?
The system of Central Audit primarily takes place in which location?
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Among the following, what best describes the nature of Central Audit?
Among the following, what best describes the nature of Central Audit?
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Which of the following is a key aspect of propriety audit as per the given content?
Which of the following is a key aspect of propriety audit as per the given content?
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What function is specifically associated with the scrutiny of appropriation accounts?
What function is specifically associated with the scrutiny of appropriation accounts?
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Which of these elements is NOT considered during the regularity audit?
Which of these elements is NOT considered during the regularity audit?
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Which document is NOT typically used as a basis for the Central Audit process?
Which document is NOT typically used as a basis for the Central Audit process?
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The Central Audit is conducted in the office of AG in different ______.
The Central Audit is conducted in the office of AG in different ______.
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Central Audit is primarily focused on regularity and ______ audit.
Central Audit is primarily focused on regularity and ______ audit.
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During the audit, objections are recorded in the ______ Book.
During the audit, objections are recorded in the ______ Book.
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Central Audit is based on accounts and other ______ furnished by different payment outlets.
Central Audit is based on accounts and other ______ furnished by different payment outlets.
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Auditors must check the high standard of financial ______ during the audit.
Auditors must check the high standard of financial ______ during the audit.
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The audit ensures that expenditure is sanctioned as per the general or special order of a competent ______.
The audit ensures that expenditure is sanctioned as per the general or special order of a competent ______.
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Central Audit includes scrutiny and certification of the Finance Accounts before the ______ of the year.
Central Audit includes scrutiny and certification of the Finance Accounts before the ______ of the year.
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Regularity audit involves observing rules and regulations framed by the ______.
Regularity audit involves observing rules and regulations framed by the ______.
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The pursuit of objection memos involves collaboration with the concerned ______.
The pursuit of objection memos involves collaboration with the concerned ______.
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The Central Audit is conducted by audit ______ throughout the year.
The Central Audit is conducted by audit ______ throughout the year.
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Study Notes
Central Audit Duties and Functions
- Central Audit reviews sanctions, agreements, vouchers, and monthly accounts to ensure accuracy and compliance.
- Objections are recorded in an Objection Book, and memos are issued to concerned departments for resolution.
- Central Audit scrutinizes and certifies Finance Accounts before the start of each fiscal year and Appropriation Accounts after the fiscal year ends.
- Central Audit is conducted in the office of the Accountant General in different states.
- Audit is based on accounts, vouchers, schedules, and documents provided by treasuries, Public Works/Forest Divisions, and other authorities.
- Audit also relies on sanction orders from various sanctioning authorities.
- Central Audit is conducted at the headquarters of each State Accountant General by audit parties throughout the year.
- The primary focus of Central Audit is on regularity and propriety.
Regularity Audit Principles
- Expenditures must be authorized by competent authority through general or special orders.
- Funds must be provided by competent authority.
- Government rules and regulations must be followed.
Propriety Audit Principles
- High standards of financial morality should be upheld.
- Sound financial administration is crucial.
- Actions should demonstrate a commitment to the financial interests of the government.
Central Audit Duties and Functions
- Central Audit is conducted in the office of the Accountant General in different States.
- The audit is based on accounts, vouchers, schedules and other documents furnished by different payment outlets.
- The Central Audit is also based on sanction orders endorsed by various sanctioning authorities.
- Central Audit is conducted at the Head Quarters of each office of the State Accountant Generals throughout the year.
- Central Audit is primarily a regularity and propriety audit.
Regularity Audit Requirements
- Expenditure must be sanctioned by competent authority, either through general or special orders.
- Funds must be authorized by competent authority.
- Rules and regulations framed by the Government must be observed.
Propriety Audit Requirements
- High standard of financial morality must be maintained.
- Sound financial administration must be practised.
- Devotion to the financial interest of the Government must be observed.
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Description
Explore the key responsibilities of Central Audit in reviewing financial documents and ensuring compliance. This quiz covers principles of regularity audit and the overall process of audit implementation across various state offices. Test your knowledge on the intricacies of audit duties and functions.
