All United Nations staff are obligated to comply with the Financial Regulations and Rules and with administrative instructions issued in connection with those Regulations and Rules. Any staff member who contravenes the Financial Regulations and Rules or corresponding administrative instructions may be held personally accountable and financially liable for his or her actions.
ISA Documents: Currently, International Standards on Auditing have 36 and 1 Quality Control-The International Auditing and Assurance Standards Board( IAASB), have been issuing International Standards(ISAs) on Auditing since 1991
Compliance audit is the independent assessment of whether a given subject matter is in compliance with applicable authorities identified as criteria. Compliance audits are carried out by assessing whether activities, financial transactions and information comply in all material respects, with the authorities which govern the audited entity. Compliance auditing may be concerned with
INDIAN AUDIT AND ACCOUNTS DEPARTMENT AUDITING STANDARDS 2017 Comptroller and Auditor General of India CONTENTS Preface CHAPTER-I Introduction Purpose and Authority of the Standards Mandate Prerequisites for functioning CHAPTER-II General Standards Public […]
Performance audit is an independent, objective and reliable examination of whether public sector undertakings, systems, operations, programmes, activities or organizations are operating in accordance with the principles of economy, efficiency and effectiveness.The main objective of performance audit is to constructively promote economical, effective and efficient governance.
The purpose of an audit of financial statements is to enhance the degree of confidence of intended users in the financial statements. This is achieved through the expression of an opinion by the auditor as to whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework, or – in the case of financial statements prepared in accordance with a fair presentation financial reporting framework – whether the financial statements are presented fairly, in all material respects, or give a true and fair view, in accordance with that framework.
Public sector audit environment is that in which governments and other entities exercise responsibility for the use of national wealth, natural resources, resources derived from taxation and other sources in the delivery of services to citizens and other recipients. These entities are accountable for their management, performance and use of resources, both to those providing the resources and to those, including citizens, who depend on the services delivered using those resources. Public sector auditing helps to create suitable conditions and reinforce the expectation that public sector entities and public servants will perform their functions effectively, efficiently, ethically and in accordance with the applicable laws and regulations.
The Comptroller and Auditor General of India (CAG) who is the head of Supreme Audit Institution of India (SAI India) discharges his constitutional functions through the Indian Audit and Accounts Department. The Constitution of India provides for the Comptroller and Auditor General of India who is appointed by the President of India by warrant under his hand and seal.
In pursuance of Section 23 of the Comptroller and Auditor General’s (Duties, Powers and Conditions of Service) Act, 1971, (Act No 56 of 1971), the Comptroller and Auditor General of India hereby makes the following Regulations,