Professional Documents
Culture Documents
Professional Development RTI
Professional Development RTI
enrichment
CORE VALUES of the IA&AD
Independence, Objectivity, Integrity, Reliability, Professional Excellence, Transparency,
Positive Approach
Audit is a means to an end rather than an end in itself. Audit findings utility is manifested only when
all the stakeholders, particularly the Executive, Legislature and citizens believe in the credibility of
these findings and use them for enhancing the quality of governance. - Speech by the President of
India Shri Pranab Mukherjee at the inauguration of the 27th Conference of Accountants General on
'Promoting Good Governance & Accountability through Public Audit'
Your work is going to fill a large part of your life, and the only
way to be truly satisfied is to do what you believe is great work.
And the only way to do great work is to love what you do. If you
haven’t found it yet, keep looking. Don’t settle. As with all matters
of the heart, you’ll know when you find it. Steve Jobs
August 2011 Feedback sought from CAG for improving Integrity
a) Lay down a Code of ethics in line with the INTOSAI Professional Standards and make public
the ethical requirements and obligations of Auditors. Such a Code can be subjected to regular
feedback from our stakeholders (staff, audit entities, professional audit bodies) on their
opinions as to its ethical standards. We may also need to review this feedback to identify any
real or perceived ethical failings and ensure that any identified ethical concerns are addressed
conscientiously by the senior management of the Department. In order to convey the intent,
the Code may be regularly affirmed in periodical meetings held with Audit personnel.
b) Make audit planning, risk analysis and sample selection guidelines comprehensive and
practical to minimize the possibility of manipulating the audit scope. Encourage sharing with
the management the methodology adopted for these exercises.
c) Institutionalize logistics support extended by the audit entity to the auditors wherever this is
being provided in order to bring in more transparency in dealings with the organization being
audited.
d) Increase interaction with audit entity at middle and senior management levels. This will
generate occasions to convey a message of sincere intent to the organization and also to
receive feedback on conduct of our field formations.
e) Implement web-based interface for receiving feedback and complaints by making public the
details of audit parties, audit programmes and senior management in the field offices.
f) Make ethical concerns and managing conflicts of interest part of structured training
intervention for all levels in the Department.
IA&AD
HAL revenue recognition of sales for aircraft - IOC, SOC & FOC
While the company was recognizing sales on aircraft and helicopter for which SOC had been issued by
the customer, we observed that mandatory works required to be completed on the product before
issue of SOC had been carried out after the SOC dates and even after 31st March of the relevant
accounting period.
The HAL receives advance from the military, almost three times its annual turnover.
In 2010-11, the financial turnover was a bit over Rs. 13,000 crore, but the order
book was Rs. 68,265 crore, against which HAL took advance of Rs. 35,146 crore
from its customers. On that advance, it earned an interest income of over Rs. 2,200
crore, and booked a profit after tax of Rs. 2,114 crore. That year, HAL paid the
government, its majority shareholder, a dividend of Rs. 423.12 crore.
NEC
Regional Plan
Normative Allocation
Web-based UC filing
Monitoring through satellite imagery