Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
1 Nature and scope of Audit
“Auditing including internal audit is an independent, objective assurance and consulting activity
designed to add value and improve an organization's operations. It helps an organization
accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve
the effectiveness of risk management, control, and governance processes”
These rules shall be applicable for audit of all Government Departments , State Public sector
undertakings(PSUs), Statutory authorities , Panchayati Raj institutions, Municipalities / Urban
Local Bodies, Government societies and other entities which are under administrative control of
the state government .
• Audit is one of the fundamental ―Checks and Balances‖ for sound Governance
• The scope of auditing is broad and may involve topics such as the efficiency of operations,
the reliability of financial reporting, deterring and investigating fraud, safeguarding assets,
and compliance with laws and regulations
• The scope of Audit depends on the nature of activities undertaken by the host
department. It is therefore important that before visiting an office the Audit Team
makes a detailed study of its functions with particular reference to the working conditions
• Audit provides an unbiased, impartial and objective assessment of the reliability and fair
presentation of the financial activities and financial position of the Government in their
accounts. It also provides an assessment of the due observance of the laws, rules and
procedures keeping with the financial interests of and propriety in the functioning of the
Government
• Further, audit provides an assessment of the achievement of economy, efficiency and
effectiveness (Value for money) in the implementation of the mandated activities of the
Government
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