IGAA

Welcome

To

Training Session

On

Introduction to Indian Government Accounts and

Audit
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Introduction

• Accounts – Statement of facts

• Recorded in chronological order

• Heads of accounts – Compilation

• Audit

• Audit as an agency of Financial Control

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C&AG of India

• High independent Statutory Authority

• Appointed by President
• To remove – Procedure applicable to SC Judge
• Not eligible for any appointment after retirement
etc.
• Pay & Allowances are charged on Consolidated fund
• Audit of Centre/State Govt. Accounts, PSUs etc.
• Report of C&AG
• Submission to Parliament – Public Accounts
Committee
• Follow up Action
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Financial Administration & Accounting

• Legislative Control
• Administrative Control
• Audit Control
• Finance Commission – Distribution of Taxes
– States
• Cash basis of accounting
• Single entry with double entry principles
• Banking and Non-Banking Treasuries
• Civil Accountant Generals
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Audit

• Spirit of Audit – Sanction/Receipt/Expenditure

• Audit as an aid to Government
• Audit against Propriety, Regularity
• Economy – Minimum operating cost
• Efficiency – Achieving targets in systematic
manner
• Effectiveness – Predetermined plans – Low cost
• Verification of Balances at the end of the year
• Combined Finance and Revenue Accounts of the
Central and State Governments in India - CGA
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Financial Committees

• Public Accounts Committee – Examination of

Accounts, Appropriation Accounts and Audit Reports
– 22 members (15- Lok sabha and 7 Rajya Sabha)

• Estimates Committee – Examination of such

Estimates – Economy, improvement, efficiency and
reforms – 30 members from Lok Sabha

• Committee on Public Undertakings – Examination of

Accounts of undertakings and audit reports - 22
members (15- Lok sabha and 7 Rajya Sabha)
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