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CAG’s (DPC) Act, 1971

CAG’s (DPC) Act, 1971. DAY 2 SESSION NO.1 (THEORY). CAG’s (DPC) Act, 1971. Introductory- Provisions of Art. 149& 151 Of Constitution of India deal with Functions of CAG. Up to 1971 CAG continued to perform functions as per India (Audit and Accounts ) Order 1936. CAG’s Duties.

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CAG’s (DPC) Act, 1971

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  1. CAG’s (DPC) Act, 1971 DAY 2 SESSION NO.1 (THEORY) RTI, MUMBAI

  2. CAG’s (DPC) Act, 1971 • Introductory- • Provisions of Art. 149& 151 Of Constitution of India deal with Functions of CAG. • Up to 1971 CAG continued to perform functions as per India (Audit and Accounts ) Order 1936. RTI, MUMBAI

  3. CAG’s Duties • I ) Compilation and keeping of accounts and audit • Provisions relating to Sns 13 to 20, 23 & 24 pertain to AUDIT • Sn 13 of the Act relates to audit of all expenditure out of Consolidated Fund of India , all States and UTI RTI, MUMBAI

  4. Audit Of Expenditure includes • Audit against provision of Funds • Regularity Audit • Propriety Audit • Efficiency cum performance audit RTI, MUMBAI

  5. DPC ACT Cont... • Sn 14 deals with audit of grants / Loans • The loan or grant should be from Consolidated fund of India or States, UTI RTI, MUMBAI

  6. DPC Act Cont…. • Sn .15 -Audit of grants or loans given for any specific purpose from the consolidated fund to any body or authority not being a foreign body • CAG to satisfy that the loan or grant given satisfies the conditions attached to the granting of such assistance RTI, MUMBAI

  7. DPC Act Cont.. • Audit Report contains the totality of the accounts. • There fore , audit of not only expenditure but also receipts shall be included • Sn 16 deals with the receipts of Union, states RTI, MUMBAI

  8. DPC Act Cont... • Sn 17 deals with transactions of Stores and Stock of Department of Union and States,UTI. RTI, MUMBAI

  9. Audit of Govt. Companies • Sn.619 of the Act prescribes the details of Audit of Govt. Companies. • Govt Company is defined in Sn. 617 of The Companies Act, 1956. • Sn.619(2) of the Companies Act- Appointment of auditors of Govt. Companies RTI, MUMBAI

  10. Audit of Govt. Companies Cont... • Sn. 619(3) - CAG shall direct the manner in which account shall be audited • Sn. 619(4) - CAG has power to comment upon or supplement the audit report of CAs • Sn. 619(5)- CAG’S comments shall be placed before the AGM at the same time and in the same manner RTI, MUMBAI

  11. Audit of Statutory Corporations • Established by Parliament • CAG shall audit the accounts of such corporations in accordance with the provisions contained in their Acts. RTI, MUMBAI

  12. Established by States • Sn. 19(3) of DPC Act enables the States to request the CAG to audit their accounts • Only Parliament has the power to direct CAG to audit the accounts. Others have to request RTI, MUMBAI

  13. Sn.20 of DPC Act • Deals with audit of accounts of certain bodies or authorities not covered in earlier sections. • Govt. shall consult the CAG for undertaking the audit. • Terms and conditions shall also be settled between Govt. and CAG. RTI, MUMBAI

  14. Cont... Section 16- • It shall be the duty of CAG to Audit not only the expenditure but the receipts also. Section 16 deals with the audit of receipts. It specifies that the executive has to make safeguards to assess , collect and remit the revenues of the Union and the states RTI, MUMBAI

  15. Cont... • Section 17- • CAG shall have authority to audit the accounts of Stores and stock of the Union and of the States. This is dealt with in Section 17 of the CAG’s DPC Act. RTI, MUMBAI

  16. Cont…. • Section 18- • CAG shall have authority to inspect any Office of accounts under the control of union or State. For this books and records can be called for where he wants. • Any information can be called for by him or his representatives. RTI, MUMBAI

  17. Cont... • Miscellaneous Sections- • CAG can delegate power to exercise his power by subordinates except the power of submission of CAG’s Report to the Parliament or State Legislature. • Section 21 RTI, MUMBAI

  18. Cont... • Section 22 • Central Govt. in consultation with The CAG may make rules for maintaining the accounts RTI, MUMBAI

  19. Cont... • CAG can make regulations for carrying for audit of expenditure and receipts. He can decide about the extent and scope of audit . • Section 23 RTI, MUMBAI

  20. Cont... • Section 24 • CAG can dispense with any part of detailed audit of any accounts or class of transactions and to apply such limited checks as he may deem fit. RTI, MUMBAI

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