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Audit Manual - Core Treasury System Uttarakhand

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Government of <strong>Uttarakhand</strong><br />

<strong>Audit</strong> <strong>Manual</strong><br />

2 Role of <strong>Audit</strong><br />

• <strong>Audit</strong> is an independent appraisal function with a primary role to provide an objective<br />

evaluation of the operations, information and control systems that the Government has put in<br />

place. <strong>Audit</strong> acts as a medium for change and presents diagnosis and solutions, not just a<br />

list of problems.<br />

• <strong>Audit</strong> is expected to provide recommendations for improvement in those areas where<br />

opportunities or deficiencies are identified. While government is responsible for internal<br />

controls, the internal audit activity provides assurance to government and the <strong>Audit</strong> Review<br />

Committee that internal controls are effective and working as intended.<br />

• The <strong>Audit</strong> Function puts in place a system of Checks and Balances to give an assurance<br />

that the Government officials are discharging their duties efficiently and effectively, which in<br />

other words would mean cost effectiveness and efficiency of government activities.<br />

• <strong>Audit</strong> plays a significant role in improving the following activities in Government<br />

Departments:-<br />

Effectiveness and Efficiency of Operations<br />

Propriety of Expenditure<br />

Transparency in Public Expenditure system<br />

Timely and complete realization of revenue receipts<br />

Accounting for all receipts and expenditure<br />

Adequate utilization of the Government Grants<br />

Compliance with laws and regulations<br />

Reliability in reporting<br />

• Broadly audit aims to Safeguard the financial interests of the tax payer/stake holders and<br />

watch that various authorities of the state set up by, or under, the Constitution act in regard<br />

to all financial matters in accordance with the Constitution and the laws of Parliament and<br />

appropriate legislatures<br />

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