Accounts at a Glance (2011-12) - Ministry Of Earth Sciences
Accounts at a Glance (2011-12) - Ministry Of Earth Sciences Accounts at a Glance (2011-12) - Ministry Of Earth Sciences
2011-12 Accounts at a Glance(iii) Internal Audit/Performance Audit :The revised charter of the roles and responsibilities of theController of Accounts envisage that the Internal Audit Wingworking under the control and supervision of the Controller ofAccounts would move beyond the existing system ofcompliance/regulatory audit and would focus on;(i) the appraisal, monitoring and evaluation of individualschemes,(ii)assessment of adequacy and effectiveness of internal controlin general, soundness of financial systems and reliability offinancial and accounting reports in particular;(iii) Identification and monitoring of risk factors (including thosecontained in the Outcome Budget);(iv) Critical assessment of economy, efficiency and effectivenessof service delivery mechanism to ensure value for money;(v) Providing an effective monitoring system to facilitate midcourse corrections.The above revised functions shall be carried out as per theguidelines issued by the CGA from time to time.(iv) FRBM related Tasks :The Controller of Accounts shall be responsible for assistingin the preparation of the disclosure statements required under theFRBM Act in respect of their Ministry/Department for incorporation inthe consolidated statement compiled by the Ministry of Finance for theGovernment as a whole. He would also provide Financial Adviser withthe requisite information and material for his input for FinanceMinister’s quarterly review of fiscal situation to be presented to theParliament.(v) Expenditure and Cash Management :9
2011-12 Accounts at a GlanceThe Controller of Accounts will support Financial Adviser in thedischarge of their responsibilities for expenditure and cashmanagement. The expenditure management function should also beclosely linked to the Outcome Budget. He would provide support toimprove cash management through monitoring of monthly cash flowseffectively in the context of cash expenditure/commitments, tighten thesystem of receipt and payment monitoring and assist in securinggreater convergence of revenue inflow and expenditure outflows.(vi) Non-Tax Receipt :The Controller of Accounts shall be responsible for assisting theFinancial Adviser in relation to estimation and flow of non-tax revenuereceipts. In the discharge of these responsibilities, the Controller ofAccounts shall hold consultations with the administrative divisions toreview various non-tax revenue receipts of the Ministries/Departments,review user charges for quantification of the subsidy elements andperiodical reviews, as may be required, of rent, license fees, royalties,profit share and dividends.(vii) Monitoring of Assets and Liabilities :The Controller of Accounts would be responsible for assisting theFinancial Adviser to cause appropriate action for Ministry to have acomprehensive record of its assets and liabilities. He should takeappropriate action in this regard for initial building up of such records,their ongoing updation and also for the recording of maintenance andoptimum utilization of the assets. He shall also be responsible formonitoring Government guarantees.(viii) Accounts and Audit :Finance Adviser would be kept informed about the overallquality of maintenance of departmental accounts by Controller ofAccounts. He would be responsible for providing necessaryinformation to the FAs for his regular review of the progress of internalaudit and action taken thereon, so as to make it an important tool forfinancial management.(ix) Budget Formulation :10
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<strong>2011</strong>-<strong>12</strong> <strong>Accounts</strong> <strong>at</strong> a <strong>Glance</strong>(iii) Internal Audit/Performance Audit :The revised charter of the roles and responsibilities of theController of <strong>Accounts</strong> envisage th<strong>at</strong> the Internal Audit Wingworking under the control and supervision of the Controller of<strong>Accounts</strong> would move beyond the existing system ofcompliance/regul<strong>at</strong>ory audit and would focus on;(i) the appraisal, monitoring and evalu<strong>at</strong>ion of individualschemes,(ii)assessment of adequacy and effectiveness of internal controlin general, soundness of financial systems and reliability offinancial and accounting reports in particular;(iii) Identific<strong>at</strong>ion and monitoring of risk factors (including thosecontained in the Outcome Budget);(iv) Critical assessment of economy, efficiency and effectivenessof service delivery mechanism to ensure value for money;(v) Providing an effective monitoring system to facilit<strong>at</strong>e midcourse corrections.The above revised functions shall be carried out as per theguidelines issued by the CGA from time to time.(iv) FRBM rel<strong>at</strong>ed Tasks :The Controller of <strong>Accounts</strong> shall be responsible for assistingin the prepar<strong>at</strong>ion of the disclosure st<strong>at</strong>ements required under theFRBM Act in respect of their <strong>Ministry</strong>/Department for incorpor<strong>at</strong>ion inthe consolid<strong>at</strong>ed st<strong>at</strong>ement compiled by the <strong>Ministry</strong> of Finance for theGovernment as a whole. He would also provide Financial Adviser withthe requisite inform<strong>at</strong>ion and m<strong>at</strong>erial for his input for FinanceMinister’s quarterly review of fiscal situ<strong>at</strong>ion to be presented to theParliament.(v) Expenditure and Cash Management :9
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