Cag auditing standards 2017

Separate Audit Reports (SARs) in respect of State Autonomous bodies. Independent Standard-Setting Boards. maintain the highest standards of surgical practice and patient care. The Central Excise collection was ` 1,89,038 crore during financial year 2014- 15 (FY15) and accounted for 34. The audit was carried out through the examination of financial transactions and operations at UNRWA headquarters in Amman and at its field offices Auditing is, perhaps, one of the most practical-oriented subjects in the C. Appendix 1200. Types of Company Audit – Statutory Audit – Internal Audit – Branch Audit – Joint Audit – CAG Audit 12. Miscellaneous Updates on CAG Audit Reports… An unofficial initiative to promote the transparency and good governance by sharing various information relating to CAG Audit Reports published from the Central Fund capital investments at 31 December 2017 and the national debt outstanding at that date. (i) Social Sector Audit including Social Audit (with special focus on Rural Development sector) (ii) Management Development Aptitude (iii) Certification Audit of Company Accounts (iv) Se minar on “Accounting Standards” (v) Audit of Public Works & Projects (vi) Risk -based Audit Approach and Development of Audit Skills HOME › Publications › Auditing standards › International Standards on Auditing for use in Ireland Ethical Standard for Auditors (Ireland) 2017. We are an executive agency of Her Majesty’s Treasury (HM Treasury), established in . curriculum. UNIVERSITY OF CALIFORNIA INTERNAL AUDIT MANUAL University of California 6/14/2018 Page 1 CONTENTS . We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. The letter claimed that there were reports that the audit of the Rafale deal would be done as late as September 2018, but the related files were yet to be scrutinised by the CAG. The International Auditing and Assurance Standards Board sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global profession. Under the provisions of section 13 of the Comptroller and Auditor General’s (DPCs) Act, 1971, it is the duty of the CAG to audit all expenditure incurred from the Consolidated Fund of India and of each state and each Union Territory having a Legislative Assembly Solve this simple math problem and enter the result. State Audit Report (General and Social Sector) (G&SS) of the Comptroller and Auditor General of India. g. But CAG is well within its rights to seek audit of the fiscal impact of demonetisation Audit Reports Report No. It has not extended to evaluating whether The Comptroller & Auditor General of India (CAG) is creating multiple databases that will help the institution access various sources of information to make audit process more transparent and separate review published in January 2017; the content of the draft revised Financial Direction 5. Approach 1. 1. All audit engagements as per the Prepared by: IAASB Staff (July 2017) Page 1 of 24 Approved Minutes of the Public Session of the Meeting of the INTERNATIONAL AUDITING AND ASSURANCE STANDARDS BOARD CONSULTATIVE ADVISORY GROUP (CAG) Held on March 7-8, 2017 New York, USA PRESENT Members Marie Lang Interim CAG Chair Noémi Robert Accountancy Europe (AE) Draft IAASB CAG Public Session Minutes – September 2017 IAASB CAG Public Session (March 2018) Agenda Item A Page 3 of 26 Mr. “The performance audit revealed deficiencies in financial management, planning The Comptroller and Auditor General is the Administrative Head of the Indian Audit and Accounts Department. CAG audits all the Government accounts. 139 (5) and 139 (7) of the Companies Act, 2013 are also subject to test audit by the CAG. Section I – Functions of the Comptroller and Auditor General of India • Introduction 1. “This is a fairly comprehensive audit and is being done for the first time since the regulator came into existence,” said a government official requesting anonymity. The C&AG’s mission is to provide independent assurance that public funds and resources are used in accordance with the law, managed to good effect and properly accounted for and to contribute to improvement in public administration. April 2015. I am independent of the Revenue Excerpts from CAG report are as under quoted verbatim (as told to parliament on 21 st July, 2017):-“ The world’s second-largest standing army is woefully short on ammunition and there hasn’t been a remarkable change in the last few years, the Comptroller and Auditor General told parliament on Friday. Such checks are essential to guard against wasteful expenditure. International Standards on Auditing (ISA), 1991-The IAPC and its successor, the IAASB, have issued International Standards on Auditing since 1991. Accountants General will deliberate on four sessions on audit planning, audit execution, audit reporting and accounting in a digital environment. Recently, CAG decided to evaluate the working of the scheme and commissioned ‘performance audit’ reviews covering select general category and special category States. Each review covers a contiguous five year period between 2000 and 2007, but varies across selected states. Our Role. The draft Annual Report and Accounts for the year ended 31 March 2017 is attached. Corporate Governance- Its meaning, Legal Provisions and Applicability in Public Auditing The audit body has observed that the Food Safety and Standards Authority of India (FSSAI) has not, prior to the engaging the 261 employee, identified their specific work, expected output and time Independent Standard-Setting Boards. This resource is a Self-Learning activity (Section 2) as defined by the Maintenance of Certification Program of the Royal College and endorsed by the Canadian Association of Gastroenterology (CAG). These standards determine the audit procedures that shall be applied in audit and constitute the criteria or benchmark against which the quality of audit results is evaluated. Planning for Audit of Corporate Social Responsibility. Performance Audit Report on Kudankulam Nuclear Power Project, Units I and II i Report No. We conducted our audit in accordance with Swiss law, International Standards on Auditing (ISAs) and Swiss Auditing Standards. REGIONAL TRAINING INSTITUTE, JAIPUR-302015 Gen. Executive Summary . 00 NHS England NHS Ambulance Services 2017 was a great and awesome year to Supreme Audit Institution of TANZANIA. Dear Professional Colleague, No Service Tax Audit by the Service Tax Department or CAG . DoT will pick from empanelled CAG auditors. 0 Applicable Auditing Standards and Reporting Procedures. Auditing & Assurance . Audit Board Later on,the International Accounting Standards Committee and the Accounting Standard board of the Institute of Chartered Accountants of India have developed standards on accounting and auditing practices to provide the guidance on the day to day work being undertaken by auditors and accountants. 09. 4. to be printed on 24 January 2017 This report has been prepared under Section 6 of the National Audit Act 1983 for presentation to the House of Commons in accordance with Section 9 of the Act Sir Amyas Morse KCB Comptroller and Auditor General National Audit Office 23 January 2017 HC 972 | £10. of the Company. Mr. The PCAOB establishes auditing and related professional practice standards for registered public accounting firms to follow in the preparation and issuance of audit reports. International Public Sector Accounting Standards (IPSAS) Cash basis of accounting and in the manner required by the Public Finance Act, 2001 revised 2004. At the time the IAPC stated: National standards on auditing and related services published in many countries differ in form and content. Morse, Comptroller and Auditor General, UK, United Nations Secretary-General BAN Ki-moon Audit Report (State Finance) of the Comptroller and Auditor General of India (CAG). With most of the SAIs in the INTOSAI community gearing towards the ISSAI as a common public sector auditing standards, it is a way forward approach for the RAA. reported in the previous Audit Reports. Those standards require me and my staff to comply with the Financial Reporting Council’s Revised Ethical Standard 2016. The CAG as an institution could partner with local citizens and state audit societies to train them, build capacities and issue advisories on framing of guidelines, developing criteria, methodology and reporting for audit Last month a new audit report of the Comptroller and Auditor General of India (CAG) was tabled in parliament. 1. Our responsibilities under those standards are described in the section below entitled “Auditor’s responsibilities for the audit of the financial statements”. The audit has been conducted in conformity with the Auditing Standards issued by the Comptroller and Auditor General of India. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated October 19, 2018 on our consideration of the C/CAG’s internal control over financial reporting and on our tests of Independent Standard-Setting Boards. In India, government audit is performed by an independent constitutional authority, i. Balasubramaniam, Mr. Public Procurement Bill. The audits are also conducted in accordance with the additional terms of reference Advancing Audit Quality Proactively and Comprehensively. Sharko and Grabowski introduced the topic and explained the ISA 540 Task Force’s activities since the September 2017 CAG meeting. 1100 Internal Audit Charter . The Government Auditing Standards require this peer review to be conducted every three years. . The Comptroller and Auditor General (C&AG) (Irish: An tArd-Reachtaire Cuntas agus Ciste) is the constitutional officer responsible for public audit in Ireland. The current CAG of India is Rajiv Mehrishi, who assumed the office on 25 September 2017. According to the CAG’s observations, the Food Safety and Standards Authority of India (FSSAI) is guilty of various lapses in enforcing food safety across the country. CAG 'deliberately delaying' report on Rafale deal, demonetisation: Former bureaucrats 13 Nov, 2018, 02. The IIA Standards comprise of the Definition of Internal Auditing, the Code of Ethics and the International Standards for the Professional Practice of Internal Auditing as issued by the global professional body, the Institute of Internal Auditors (IIA). 6 The increasing focus of the Audit Committee on risk is welcome. Shri Rajiv Mehrishi Comptroller and Auditor General of India. Budget allocation is made by the office of the Comptroller and Auditor General of India. Standards on Internal Audits by ICAI; ICAI’s Revised Guidance Note on Transfer Pricing, Report u/s 92E of Income Tax; Auditing, Review and Other Standards (AROS – formerly known as AAS) Guidelines on Auditing of Specific Industry / Aspects by ICAI; ICAI’s Revised Guidance Note on Tax Audit (2014 Edition) Applicable for AY 2017 According to the CAG’s observations, the Food Safety and Standards Authority of India (FSSAI) is guilty of various lapses in enforcing food safety across the country. 2. Kishore 2. The audit of the Food Safety and Standards Authority of India (FSSAI) comes against the (1) Training is imparted by the Regional Training Institute, Chennai (an ISO certified Institute) through Special courses, Workshops and Seminars. He is the 13th CAG of India. PRESENT. Basis for opinion We conducted our audit in accordance with the International Standards on Auditing. Offices, State Autonomous Bodies, Public Sector Undertakings coming under 8 Departments of the Government of Tamil Nadu in (32) Districts of the State. are envisaged in Article _______. 3 1 • General provisions relating to audit 1. This stand-alone volume contains performance reviews of various National Projects – irrigation schemes which were declared by the Union Government to be in the strategic national interest ten years ago – for the period 2008-2017. In respect of one Statutory Corporation, namely, Assam State Transport Corporation the CAG is the sole auditor. Public company auditors play a critical role in the capital markets. The Board conducts its audits in conformity with the International Standards on Auditing. com Internal Audit Department Honorable Mayor and Members of the Assembly: January 11, 2017 I am pleased to present for your review Internal Audit Report 2017-02, Anchorage Senior Activity Center: Contract Administration, Department of Health and Human Services. The National Audit Office have substantially completed their audit and expect to give an unqualified audit report. State Audit Report (Local Bodies) of the Comptroller and Auditor General of India. Examine its findings and recommendations. e. SECTION 1000 AUTHORITY, ORGANIZATION AND PROFESSIONAL STANDARDS . This has constrained the institutions of accountabilities like Office of the Comptroller and Auditor General (OCAG) and Public Accounts Committee (PAC) of the parliament from engaging professional firms for any specialized audit or in the formulation of rules for public and private sectors entities. Ltd. His administrative power will be governed by rules made by the President, in consultation with the former. The CAQ develops resources to support their independence, objectivity, and skepticism. CAG Compliance audit observation on Direct Taxes Report No. 4 Financial Auditing and Reporting: General Report by the Comptroller and Auditor General for Northern Ireland – 2017 Executive Summary their executive agencies in a non-competitive way since 2013-14, and welcome the progress made. > 40 Committee for Auditing Standards > 42 Committee for Auditor Ethics > 44 Inspections Committee > 46 Investigating Committee > 47 Disciplinary Committee Part F: Financial Information > 50 Report of the Audit and Risk Management Committee > 52 Report of the Auditor-General > 55 Annual Financial Statements based on our audit. for 1+3, enter 4. It has also broadened the ambit and scope of auditing by the Comptroller and Auditor General of India. CAG audit Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. other additional procedures in accordance with auditing standards generally accepted in the United States of America. ” Unmatched capabilities. The Office of the Comptroller and Auditor General is the public audit body for the Republic of Ireland and is headed by the C&AG. To the extent that it is appropriate to do so, the audit undertaken by CAG’s audit is looking at issues such as how FSSAI fixes standards, finalizes regulations, approves products, ensures compliance and conducts surveillance. Introduction about Corporate Social Responsibility and Provisions as per Companies Act 2013. Application of Manuals for the conduct of audit. The federal auditor has unmatched capabilities as far as auditing of telecom companies is concerned. Order No CAG-GB-1-MUNA-274(83)-Part-33-2017-2018-64 for Kathmundu and Kwait City . City Audit has been peer reviewed several times. Types of Company Audit – Statutory Audit – Internal Audit – Branch Audit – Joint Audit – Special Audit – CAG Audit 12. The training courses conducted by the Institute and attended by the officials of this office during the year 2017-18 is as follows: 02 CAG News January – June 2017 Trans-Regional program on the Audit of lending and Borrowing Frame work which was held for two days from 30-31 March 2017. Standards of Auditing . Regional Training Institute, Chennai Annual Training Calendar for the Year: 2017-2018 A) Profile I. The question paper will be of objective type consisting of 200 multiple choice questions. by INSIGHTS · December 23, 2017 1 Comptroller and Auditor General, Government’s management of its performance: progress with single departmental plans, Session 2016-17, HC 872, National Audit Office, July 2016. During the joint inspection of the selected 74 stations and 80 trains over Zonal Railways, the audit found that cleanliness and hygiene standards were not being maintained in the catering units at stations and on trains. Appointed by President. A n audit includes examination • To REPORT BACK on the September 2017 meeting • To DISCUSS proposed ISA 540 (Revised) and the conforming and consequential amendments Messrs. The staff members of City Audit have also participated in the peer review of other local government auditing offices. 2017 Principal Accountant General (G&SSA) is in-charge of audit of Accounts of the State Government and preparation of the Comptroller and Auditor General's Report on State Finances. Authority for Audit. The audit was conducted in accordance with the Auditing Standards generally accepted in India. 38 of 2017 Preface Nuclear Power Corporation of India Limited (NPCIL), a Public Sector Enterprise was formed on 17 September 1987 under the administrative control of the Department of Atomic Energy (DAE), Government of India (GOI). This slide library was co-developed with Takeda Canada and was developed to achieve scientific integrity, objectivity and balance. Article 148 – Independent office of CAG of India. The Statutory Auditors appointed by the Comptroller and Auditor General of India under Section 139(5) of the Act are responsible for expressing opinion on the financial statements under Section 143 of the Act based on independent audit in accordance with the Standards on Auditing prescribed under section 143(10) of the Act. Regulations on Audit and Accounts. CAG Report Summary Implementation of Food Safety and Standards Act, 2006 The Comptroller and Auditor General of India (CAG) released an audit report on the ‘Implementation of Food Safety and Standards Act, 2006’ on December 19, 2017. These Auditing Standards are effective from 1 April 2017. 4 2 • Audit of grants and loans to various bodies and authorities 1. Rajiv Mehrishi assumed office as the Comptroller and Auditor General of India on 25 September 2017. The project team based in the Clinical Effectiveness Unit (CEU) at the RCS carried out the analysis of the data for the 2017 Annual Report. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements. GOVERNMENT ACCOUNTING RULES, 1990 Preamble - In exercise of the powers conferred by Article 150 of the Constitution, the President on the advice of the Comptroller and Auditor General, hereby makes the following basic rules relating to the form of National Audit Office (NAO) on behalf of the Comptroller and Auditor General (see note below). 6 The review was undertaken by: evaluating work undertaken by Internal Audit; His educational background, including a Masters in IT auditing, equipped him well to deal with and embrace the modern auditing standards promulgated by INTOSAI, the International Organization of Supreme Audit Institutions. FINANCIAL YEAR ENDED 30 JUNE 2017 . India News: CAG Shashi Kant Sharma, who demits office today after a four-year term, spoke to Pradeep Thakur about DeMon & more You had said you would audit the de. The bill passing authority is the PAO/Indian Audit Department, Bangalore for all Group A Officers and the FA & CAO/South Western Railway for all Group B and C staff of this Office CAG of India. Auditing Standards issued by the INTOSAI Suggested Reading:1. 2. The Government Internal Audit Agency (‘GIAA’ or ‘the Agency’) was set up to . Mohammad Suhail Fazal is a Doctor and an IA&AS officer currently posted at Office of The Accountant General (G&SSA) , Madhya Pradesh, Gwalior as Deputy Accountant General (Social Sector Audit-I) in charge of audit of Local Bodies i. 2017 to 20. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Food Safety and Standards Act, 2006 was enacted to: (i) consolidate multiple laws in the Independent Standard-Setting Boards. Comptroller and Audit General of India (C&AG), through the Indian Audit and Accounts As efforts are being made to extend social audits to new areas, it is important to look at how well they are actually implemented based on parameters specified in the auditing standards jointly pioneered by the Comptroller and Auditor General (CAG) and the Ministry of Rural Development. The Irish Constitution states that a Comptroller and Auditor General must be appointed. Although the audit was carried out by officers of Indian Accounts and Audit Department (IAAD) between February and June 2017 and the draft audit report was submitted to KSPCB and the state government in August 2017, the report was published on CAG’s website only on May 10, 2018. by INSIGHTS · March 14, 2018 Auditing. 5400/. 6) An audit of Food Safety and Standards Authority of India (FSSAI), the country’s premier watchdog on the food, by the Comptroller and Auditor General of India (CAG) reveals gaps in the working of the body. on the work undertaken in the course of the audit, having regard to the guidance issued by the Comptroller and Auditor General (C&AG) in November 2017, we are satisfied that, in all significant respects, Hertsmere Borough Council put in place proper arrangements to secure economy, efficiency and effectiveness in its use International Public Sector Accounting Standards (IPSAS). 6/2017 SCHEME AND SYLLABUS (i) Preliminary Examination The Preliminary Examination will consist of only one paper on “General Studies”. 1200 Policy on Dual Reporting for Internal Audit . Vs. Cyril Paul of AG(A&E) Nagpur and thought that hosting these on the website would be useful to AAOS/AOs/SAOs appearing for CPD. The general principles relating to the basic audit concepts and those relating to the audit process applicable to all types of public sector audits constituting the general standards have been described in Chapter 2. Audit in India Jump to It is governed by the Indian Accounting Standards who assumed the office on 25 September 2017. Video podcast - Report 3 of 2014 - Performance Audit on Kaziranga National Park-Issues and Challenges of Government of Assam. It claimed that food articles that were declared unsafe by it remain up for sale in markets due to lack of adequate monitoring. 6nment Internal Audit Agency – Corporate Plan 2017-18Gover Who we are. India. 2016/17 External auditor re ort (EX0020) Annex B. Two Audit Committee meetings were held during the Relevant Period to review and discuss risk management, internal control and financial reporting matters including a review of the financial statements for the six months ended 30 June 2017 and the year ended 31 December 2017. Henry Rees Mr. 19 has raised several concerns over clearances and testing of food, the lack of equipment other Vote Holders. Decision Audit Committee is requested to review and recommend the document to Council for approval. 1 Applicable Auditing Standards The National Audit Office of Tanzania is a member of the International Organization of Supreme Audit Institutions (INTOSAI), the African Organization of Supreme Audit Institutions (AFROSAI), and the African The CIS Critical Security Controls for Effective Cyber Defense. Military expenditure is subject to audit, similar to that of any other government department. On behalf of National Audit Office of Tanzania (NAOT), wishes you Happy New Year 2018 God bless… Read the full article. Kay Scheller, President of the German Supreme Audit Institution, Sir Amyas C. Social Sector:. Manual of Audit of Autonomous Bodies issued by this office 3. Section 13, 14, 19 and 20 of Comptroller and Auditor General's (DPC) Act, 1971. Revised Standards Revised Internal Audit Standards due for publication in early 2018 provide for the strengthening of audit functions across Government Departments and bodies. The training is in line with the RAA’s move towards adopting ISSAIs as the authoritative standards. However, it is proposed that the responsibility for the development and adoption of educational standards remain with IFAC. Compliance audit is conducted mainly as part of requirements of CAG stipulations of Audit and Accounts. We have conducted our audit in accordance with auditing standards generally accepted in India. Performance Audit Guideline . Auditors will undertake their work under the requirements of the Code of Audit Practice and supporting guidance published by the National Audit Office on behalf of the Comptroller and Auditor General, the financial reporting requirements set out in the Code of Practice on Local Authority Accounting published by CIPFA/LASAAC, and the The SANS Consensus Audit Guidelines (CAG) is a compliance standard that specifies 20 "control points" that have been identified through a consensus of federal and private industry security professionals. FAAS develops globally accepted auditing guidelines for the public sector. 10. Application of Manuals for the conduct of audit - Manual of Standing Orders (Audit) issued by the CAG of India - Manual of Audit of Autonomous Bodies - Auditing Standards - ISC Manual Independent Standard-Setting Boards. Panchayat Raj Institutions, Urban Local Bodies. . 126/2018 and adopt auditing and assurance standards and ethical standards for auditors, rather than the current three separate boards. Bill gives free hand to CAG to audit GST operation March, 28th 2017 After a series of communication with the Union finance ministry, it has been decided to drop the particular reference on the role of the Comptroller and Auditor General in the Goods and Services Tax (GST) Bill that had restricted the audit parameters of the government's – Overview of Auditing and Assurance Standards- National and International 11. The Report contains significant results of the audit of the Panchayat Raj Institutions and Urban Local Bodies in the State including the departments concerned. Draft Minutes of the Public Session of the Meeting of the . Basis of opinion I conducted my audit of the accounts in accordance with the International Standards on Auditing (ISAs) as promulgated by the International Organisation of Supreme Audit Institutions. Auditing Principles and Standards Financial and Compliance Audit. Accounting Legislation 41 The mission of the Government Accounting Standards Advisory Board (GASAB) is to formulate and recommend Indian Government Accounting Standards (IGASs) for cash system of accounting. Internal Audit – Forms of Audit - Propriety Audit, Compliance Audit and Efficiency Audit It is the CAG’s audit reports which helps ensure executive’s accountability to the Parliament in the sphere of financial administration. The audit has been conducted in accordance with the Auditing Standards issued by the Comptroller and Auditor General of India. 1 of (2016-2017) : Performance Audit on Public Sector Undertakings (Economic Sector) This Report contains one performance audit on Integrated Kashang Hydro Electric Project and 13 parag Authority for Audit. The Comptroller and Auditor General (CAG) of India is an authority, established by Article 148 of the Constitution of India, which audits all receipts and expenditure of the Government of India and the state governments, including those of bodies and authorities substantially financed by the government. 5 on grants and subsidies prepared in 2017 but not issued as at 30 September 2017; and arrangements in place within grant recipients. 61 per cent of Indirect Tax revenue in FY15. 2012. From 19th to 22nd September 2018 the State Audit Office of Vietnam (SAV) hosted the 14th ASOSAI Assembly and the 7th ASOSAI Symposium on "Environmental Audit for Sustainable Development" in Hanoi, Vietnam. Our work does not constitute an audit carried out in accordance with International Standards on Auditing (UK & Ireland) and does not provide the same level of assurance that such an audit would do. Union of India And Ors 2016 (6) TMI 163 - DELHI HIGH COURT] on the following issue: The water quality in eight of 10 towns surveyed along the Ganges did not meet outdoor bathing standards. However, although the Audit Committee has undertaken a significant volume of work related to risk: the work on review and challenge of risk management policies and procedures has been limited. Basis for Opinion I conducted my audit in accordance with International Standards of Supreme Audit Institutions (ISSAls). You will receive a link to create a new password. Compliance audit is the independent assessment of whether the financial transactions were carried on as per the requirements and regulations of the authorities governing the entity. Suggested Readings: 1. The CIS Critical Security Controls are a recommended set of actions for cyber defense that provide specific and actionable ways to stop today's most pervasive and dangerous attacks. We are sharing with you an important judgement of the Hon’ble Delhi High Court in the case of Mega Cabs Pvt. Preface This Report for the year ended March 2017 has been prepared for submission to the Governor of Karnataka under CAG’s DPC Act, 1971. Introduction: The Regional Training Institute, Chennai, established in the year 1979, is one of the pioneering training institutes of the Indian Audit and Accounts Department. CHAPTER-3 Specific Standards 3. INTERNATIONAL ETHICS STANDARDS BOARD FOR ACCOUNTANTS CONSULATIVE ADVISORY GROUP (CAG) Held on March 6, 2017 in New York, USA . It The CAG said its audit found "systemic inefficiencies, delays and deficiencies in the framing of various regulations and standards, amendments to regulations in violation of the Act and the Dr. WEST BENGAL AUDIT AND ACCOUNTS SERVICE RECRUITMENT EXAMINATION, 2017 ADVERTISEMENT NO. relating to the period after 31 March 2017 have also been included, wherever necessary. May 12 2017 Comptroller and Auditor General of India Wikipedia December 16th, 2018 - The Comptroller and Auditor General CAG of India is an authority established by Article 148 of the Constitution of India which audits all receipts and expenditure of the Government of India and the CAG creating multiple databases to make audit more transparent - The Comptroller & Auditor General of India (CAG) is creating multiple databases that will help the institution access various sources of information to make audit process more transparent and accountable, the CAG Shashikant Sharma said today. Their report is item 10 on the agenda. The Comptroller and Auditor General. The financial statements comprise the: • Authority and Group Movement in Reserves Statement, FAAS is one of subcommittees under INTOSAI Professional Standards Committee (PSC) focused on the achievement of developing high-quality and widely recognized international professional standards for public-sector auditing. His educational background, including a Masters in IT auditing, equipped him well to deal with and embrace the modern auditing standards promulgated by INTOSAI, the International Organization of Supreme Audit Institutions. Opinion on the Authority’s financial statements We have audited the financial statements of Thurrock Council for the year ended 31 March 2017 under the Local Audit and Accountability Act 2014. Standards. City of Orlando Peer Review Report March 2017. December 2017 and the residual balances at that date Basis of opinion I conducted my audit of the account in accordance with the International Standards on Auditing (ISAs). – CAG holds the office for a period of 6 years or till 65 years of age whichever is earlier. As efforts are being made to extend social audits to new areas, it is important to look at how well they are actually implemented based on parameters specified in the auditing standards jointly pioneered by the Comptroller and Auditor General (CAG) and the Ministry of Rural Development. John Kuyers Mr. The Irish Auditing & Accounting Supervisory Authority adopts auditing standards for use in Ireland under licence from the Financial Reporting Council in the United Kingdom. The audit could open up not only significant revenue for the government, but also raise questions over accounting and reporting standards of some private telecom firms. These Standards require that we plan and perform the audit to obtain reasonable assurance that the accounts are free from material misstatement. Supplementary Audit by CAG Auditing Standards Internal Audit Secretarial Audit Cost Audit . CAG has generally done a good job and kept a watchful eye on government’s profligacy and violation of rules. The There are four boards supported by IFAC, of which two set auditing and ethical standards. Internal Audit – Forms of Audit - Propriety Audit, Compliance Audit and Efficiency Audit Performance Audit Subcommittee. ensuring adherence to auditing standards. The Performance Audit Subcommittee (PAS) was created by the Professional Standards Committee (PSC) in September 2005. E. An audit includes examination, on a test basis, of UNCTAD-Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting Workshop on practical implementation of IPSAS Tuesday, 31 October 2017 Room XVII, Palais des Nations, Geneva Afternoon Session Presentation Presented by Frans van Schaik Global Leader Public Sector Accounting & Auditing Deloitte To make the audit process more transparent and accountable, the Comptroller & Auditor General of India (CAG) is in the process to create multiple databases that will help it access various sources of information. 2,87,149 crore during financial year 2015-16 (FY 16) and accounted for 40 per cent of Indirect Tax revenue in FY 16. 5. It is clear throughout this General Report that standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. A brief summary of the report is presented below. Solve this simple math problem and enter the result. The CAG talks about his office’s expanding role, from cricket to the UN, over and above its primary mandate of monitoring government expenditure At a time when audits are getting complex The mission of the IT Audit initiative was to create an enabling environment in Indian Audit and Accounts Department to conduct IT Audits effectively within the C&AG's mandate; to raise the level of competence of the staff and officers of the department so that they can undertake audit in a computerised environment in a most professional manner; and to adopt and evolve such standards and Audit Reports for the year 2016-2017 has been laid down in State Legislature on 5th April 2018 The Comptroller and Auditor General of India (CAG) has highlighted several flaws in the Union government’s accounting procedures for the financial year 2015–16, which could have led to an Dated- 30-03-2017 Page- 05 FSSAI performance comes under CAG scanner New Delhi: In a first, the Comptroller and Auditor General of India (CAG) is doing a comprehensive performance audit of the country’s food regulator. Now let us welcome 2018 with commitment and optimistic that this year will work more hard to support our country and nation as a whole. 1 – Organizational Chart CPD Exam : We have received lots of material from RTI Chennai, Mr. Instances relating to the period subsequent to 2015-16 have also been included, wherever necessary. Internal Audit Forum (“HIAF”). Member Organizations Executive Summary of CAG Report No. Work graded using the CAG reflects complexity and impact equivalent to those specified in OPM standards for that grade, assuming normal supervision. 6. My responsibilities under those standards are described in the appendix to this report. – Overview of Auditing and Assurance Standards- National and International 11. for the year ended 31 March 2017 The audit has been conducted in conformity with the Auditing Standards issued by the Comptroller and Auditor General of India. The performance audit report on implementation of Goods and Services Tax (GST) could be tabled in Parliament as early as in the forthcoming Winter session beginning December 11, according to sources, The CAG is auditing the functioning of the new indirect tax regime since its implementation on July 1, 2017. Grade Pay Rs. CAATs Computer Assisted Audit Techniques CAG Controller and Auditor General ISA International Standards on Auditing ISSAI 1000-2999 General Auditing Guidelines on Financial Audit ISSAI 1003 – Glossary of Terms to the INTOSAI Financial Audit Guidelines ISSAI 1200 – Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards of Auditing operations of UNRWA for the year ended 31 December 2017 in accordance with General Assembly resolution 74 (I) and in conformity with the International Standards on Auditing. IESBA Meeting (June 2017) Agenda Item 1-C. 7 3 Presentation by Isabelle Tracq-Sengeissen, former International Auditing and Assurance Standards Board (IAASB) technical advisor, at the FIDEF annual general meeting. Our responsibilities under those provisions and standards are further described in the Auditor's responsibilities for the audit of the consolidated financial statements section of our report. In its audit reports tabled in Parliament, the Comptroller and Auditor General (CAG) has highlighted issues such as poor hygiene and food quality in trains to critical shortage of ammunition in Recently, the Comptroller and Auditor General of India (CAG) released an audit report on the ‘Implementation of Food Safety and Standards Act, 2006’ . Accounting and Auditing Standards 34 International Public Sector Accounting Standards 35 International Education Standards 35 International Financial Reporting and International Accounting Standards 36 INTOSAI Code of Ethics and Auditing Standards 37 International Standards on Auditing 40 Annex C. MSO (Audit) including financial attest audit manual 5. A. 1 Introduction. The Comptroller and Auditor General publishes his Report to Dáil Eireann on the results of his examination of the 2017 Accounts of Government Departments and Offices. We are independent of the Fund, in Office of the Principal Accountant General (General & Social Sector Audit), Lekha Pariksha Bhavan, 361, Anna Salai, Teynampet, Chennai 600018 Web Administrator: agautamilnadu1@cag. These are collectively known in the UK as the International Professional Practices Framework (“IPPF”). Prepared by: IESBA Staff (April 2017) Page 1 of 17. CHAPTER X-Audit and Auditors Ravi Kiran Vustela 8187065642 Page 1 Summary Sections Particulars 139 Appointment of auditors 140 Removal, resignation of auditor and giving of special notice 141 Eligibility, qualifications and disqualifications of Auditors 142 Remuneration of auditors 143 Powers and duties of auditors and auditing Standards In 2017, The Director of Finance and the National Director of Internal Audit attended meetings of the Committee, while the CEO and other members of the Senior Management Team (SMT) attended where necessary. An audit report (pdf) by the Comptroller and Auditor General of India (CAG) tabled in parliament on Dec. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the consolidated financial statements section of our report. From left to right: Mr. Mr Prada has been the Chair of the Trustees since 1 January 2012 and was due to retire from the Trustees at the end of 2017. 2017 PROGRAMME SESSION TIMINGS NON-SESSION TIMINGS NON-SESSION DAYS INVITATION TO COMMENT ON INTERNATIONAL AUDITING AND ASSURANCE STANDARDS BOARD'S (IAASB) SURVEY CONSULTATION, THE IAASB'S WORK PLAN FOR 2017-2018 AND CONTINUING RELEVANCE OF ITS STRATEGIC OBJECTIVES Comments to be received by 30 August 2016 The Hong Kong Institute of Certified Public Accountants' ("Institute") Auditing and audits, in accordance with international auditing standards, the Comptroller and Auditor General, in undertaking his audit, has sought to rely on that audit work to avoid unnecessary duplication and expense. It is presumed that the special audit will be only by the CAG and if they want an authentic audit it has to be by CAG. The Comptroller and Auditor General of India’s (CAG) audit report on the performance of FSSAI and implementation of the Food Safety and Standards Act, 2006 found shortcomings. none of the above Duties and powers of CAG in relation to the accounts of the Union and the States etc. Manual of Audit of local bodies : Audit Activity Demonetisation per se is a banking and money supply issue and as such, outside CAG’s audit jurisdiction. According to a statement from the CAG, the overarching theme for the two-day conference is ‘auditing and accounting in a digital era’. Office of the Comptroller and Auditor General Annual Report and Accounts for the year ended 31 December 2017 Prepared in discharge of the responsibility in Article 19 of the Comptroller and Auditor General (Jersey) Law 2014 R. inspection Reports/ CAG's Audit Reports separately. The PIOB 2017–2019 strategy consultation and feedback statement coincides with the current Monitoring Group (MG) initiative to improve the audit-related standard-setting framework and has been consulted with the MG. This paper aims to provide working knowledge of generally accepted auditing procedures and of techniques and skills needed to apply them in audit engagements. gov. 2 1 • Compilation of accounts 1. Auditing Standards issued by the CAG of India. Since it conducts audit of expenditure on behalf of the Parliament, it is an agent of the Parliament and thus responsible only to it. Training Schedule for 2017-18 7 The focus of our training is on emerging areas and new developments in auditing including international best practices and INTOSAI auditing standards. Auditing Standards. My responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of my certificate. Central Excise collection was Rs. CAG had started auditing telecoms a few years ago, but the exercise got stalled when the private companies moved court. Officials from the Office of the Comptroller and Auditor General, the Agency’s external 2 . CAG’s audit is looking at issues such as how FSSAI fixes standards, finalizes regulations, approves products, ensures compliance and conducts surveillance. “The Monitoring Group notes that there is a legitimate concern The effect of this Order is to require the Comptroller and Auditor General (“C&AG”) to audit the accounts of—the Ebbsfleet Development Corporation for the financial years ending on and after 31st March 2018,the Housing Ombudsman for the financial years ending on and after 31st March 2018, andthe companies mentioned in article 4 for the financial years beginning on and after 1st April 2017. 1 1 • Duties and Powers of the Comptroller and Auditor General 1. The audit of Statutory Corporations is governed by their respective legislations. This will again require internal and external assessments of Internal Audit under a Quality Assurance and Improvement Programme. The International Auditing and Assurance Standards Board (IAASB) develops and issues auditing and assurance standards and pronouncements for global use, which have been adopted by over 120 jurisdictions. We conducted our audit in accordance with International Standards on Auditing (ISAs). The main function of the Comptroller and Auditor General is to carry out an audit every year of the State's accounts. GENERAL AUDIT MANUAL ADMINISTRATIVE MANUAL EXCERPTS Page 4 INTRODUCTION TO THE AUDIT MANUAL This Audit Manual is a compilation of current audit policies, procedures, and guidelines of the Audit & Compliance Division of the New Mexico Taxation and Revenue Department. 43PM IST. CAG Audit is known as audit of public enterprises done by Comptroller and Auditor General of India and here we will be discussing about Government Audit as CAG audit. The CAG report is a major setback for the indigenization effort of the “Make In India” initiative championed by the prime minister to reduce India’s dependence on imported arms. improve the quality of internal audit provided to central government. Examine the findings of CAG and their significance. E. in Updated on 06. Scribd es red social de lectura y publicación más importante del mundo. This audit and assurance alert is being issued to raise awareness of the new enhancements to the Public Company Accounting Oversight Board (PCAOB) auditor reporting standards and their impact on the 2017 Combined CAS and PCAOB Auditor's Report. Section 13 and Section 14 of CAGs (DPC) Act, 1971. Ravi M. Prepared by: IAASB Staff Page 1 of 14 Minutes of the 87th Meeting of the INTERNATIONAL AUDITING AND ASSURANCE STANDARDS BOARD (IAASB) Held on September 18–22, 2017 in New York City, USA The International Standards of Auditing (ISAs) have been developed by The International Federation of Accountants The International Auditing Practices Committee an integral part of an audit performed in accordance with Government Auditing Standards in considering the C/CAG’s internal control over financial reporting and compliance. The CAG will not do the audit. The identification of his successor has taken longer than anticipated and therefore Mr Prada has agreed to remain in place until the appointment process is completed. CAG audit Blogs, Comments and Archive News on Economictimes. Auditee Institutions: All the Tamil Nadu State Govt. Professional Auditing Standards and Guidelines (1980) which is equally broad where it is stated that, “An audit is the independent examination of, and expression of an opinion on, the financial statements of an enterprise by an appointed auditor Annual Report 2017 Auditing and Assurance Standards Board 3 Annual Report 2017 About the Auditing and Assurance Standards Board The AASB is an independent standard-setting body designated by, and operating under the auspices of the MIA to set high quality standards for quality control, auditing, review, other assurance and related services, The Comptroller and Auditor General of India (CAG) Shashi Kant Sharma is mulling over auditing the impact of demonetisation and the affect it has had on government tax revenues, a PTI report said. Manual of Standing Orders (Audit) issued by the Comptroller & Auditor General of India. Internal Audit – Forms of Audit - Propriety Audit, Compliance Audit and Efficiency Audit on Public Sector Undertakings The audit has been conducted in conformity with the Auditing Standards Comptroller and Auditor General of India (CAG) under the 1 The IAASB develops auditing and assurance standards and guidance by use for all professional accountants under a shared standard-setting process involving the Public Interest Oversight Board (PIOB), which oversees the activities of the IAASB, and the IAASB Consultative Advisory Group, which 15. Comptroller and Auditor General (CAG) of India - Is the supreme Audit institution of India. The Comptroller and Auditor General of India (CAG) has come down heavily on the Union Health Ministry and its body FSSAI for not framing regulations governing various procedures, guidelines and mechanisms in line with the provisions of the Food Safety and Standards Act, 2006. The Irish Auditing and Accounting Supervisory Authority (IAASA) is the independent body in Ireland responsible for the: - the inspection and promotion of improvements in the quality of auditing of Public Interest Entities (‘PIEs’). We conducted our audit in accordance with the International Standards on Auditing. In our opinion, the accompanying supplementary information for the year ended June 30, 2017, in the combining general fund schedules and combining nonmajor and agency fund Information. 13/2017-18 For Muscat and Brunei Office of the The CAG is ranked 9th and enjoys the same status as a judge of Supreme Court of India in Indian order of precedence. Pleasant Hill, California October 26, 2017 The International Auditing and Assurance Standards Board is an independent standard-setting body that serves the public interest by setting high-quality international standards for auditing, assurance, and other related areas, and by facilitating their adoption and implementation. Audit Officers cadres constitute the cutting edge of the professional workforce of the Comptroller and Auditor General of India. Day-5. The Institute of Internal Auditors (IIA Global) has developed standards and guidance for the practice of internal audit. 13: International Standards of Supreme Audit Institutions 18. Lost your password? Please enter your email address. 3 of 2017 Revenue Indirect Taxes Central Excise. IAASA is divided into operational units More. Yoseph Asmelash International Accounting Standards Board Information Systems Audit and Control Association United Nations Conference on Trade & Development FSSAI Responds to the CAG Audit Report on Performance of FSSAI. The Report identifies issues, which in his opinion, merit consideration by the Committee of Public Accounts in the interests of transparency and accountability. 3 of 2016 – Compliance Audit on Direct Taxes Department of Revenue Union Government “This Report for the year ended March 2015 has been prepared for submission to the President under Article 151 of the Constitution of India. We conducted our audit in accordance with the Auditing Standards promulgated by the Comptroller and Auditor General of India. 2 Comptroller and Auditor General, Capability in the civil service, Session 2016-17, HC 919, National Audit Office, March 2017. 202,Audit Team No. CAG is derived from positions description factors listed in the Office of Personnel Management (OPM) Standards

 

Separate Audit Reports (SARs) in respect of State Autonomous bodies. Independent Standard-Setting Boards. maintain the highest standards of surgical practice and patient care. The Central Excise collection was ` 1,89,038 crore during financial year 2014- 15 (FY15) and accounted for 34. The audit was carried out through the examination of financial transactions and operations at UNRWA headquarters in Amman and at its field offices Auditing is, perhaps, one of the most practical-oriented subjects in the C. Appendix 1200. Types of Company Audit – Statutory Audit – Internal Audit – Branch Audit – Joint Audit – CAG Audit 12. Miscellaneous Updates on CAG Audit Reports… An unofficial initiative to promote the transparency and good governance by sharing various information relating to CAG Audit Reports published from the Central Fund capital investments at 31 December 2017 and the national debt outstanding at that date. (i) Social Sector Audit including Social Audit (with special focus on Rural Development sector) (ii) Management Development Aptitude (iii) Certification Audit of Company Accounts (iv) Se minar on “Accounting Standards” (v) Audit of Public Works & Projects (vi) Risk -based Audit Approach and Development of Audit Skills HOME › Publications › Auditing standards › International Standards on Auditing for use in Ireland Ethical Standard for Auditors (Ireland) 2017. We are an executive agency of Her Majesty’s Treasury (HM Treasury), established in . curriculum. UNIVERSITY OF CALIFORNIA INTERNAL AUDIT MANUAL University of California 6/14/2018 Page 1 CONTENTS . We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. The letter claimed that there were reports that the audit of the Rafale deal would be done as late as September 2018, but the related files were yet to be scrutinised by the CAG. The International Auditing and Assurance Standards Board sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global profession. Under the provisions of section 13 of the Comptroller and Auditor General’s (DPCs) Act, 1971, it is the duty of the CAG to audit all expenditure incurred from the Consolidated Fund of India and of each state and each Union Territory having a Legislative Assembly Solve this simple math problem and enter the result. State Audit Report (General and Social Sector) (G&SS) of the Comptroller and Auditor General of India. g. But CAG is well within its rights to seek audit of the fiscal impact of demonetisation Audit Reports Report No. It has not extended to evaluating whether The Comptroller & Auditor General of India (CAG) is creating multiple databases that will help the institution access various sources of information to make audit process more transparent and separate review published in January 2017; the content of the draft revised Financial Direction 5. Approach 1. 1. All audit engagements as per the Prepared by: IAASB Staff (July 2017) Page 1 of 24 Approved Minutes of the Public Session of the Meeting of the INTERNATIONAL AUDITING AND ASSURANCE STANDARDS BOARD CONSULTATIVE ADVISORY GROUP (CAG) Held on March 7-8, 2017 New York, USA PRESENT Members Marie Lang Interim CAG Chair Noémi Robert Accountancy Europe (AE) Draft IAASB CAG Public Session Minutes – September 2017 IAASB CAG Public Session (March 2018) Agenda Item A Page 3 of 26 Mr. “The performance audit revealed deficiencies in financial management, planning The Comptroller and Auditor General is the Administrative Head of the Indian Audit and Accounts Department. CAG audits all the Government accounts. 139 (5) and 139 (7) of the Companies Act, 2013 are also subject to test audit by the CAG. Section I – Functions of the Comptroller and Auditor General of India • Introduction 1. “This is a fairly comprehensive audit and is being done for the first time since the regulator came into existence,” said a government official requesting anonymity. The C&AG’s mission is to provide independent assurance that public funds and resources are used in accordance with the law, managed to good effect and properly accounted for and to contribute to improvement in public administration. April 2015. I am independent of the Revenue Excerpts from CAG report are as under quoted verbatim (as told to parliament on 21 st July, 2017):-“ The world’s second-largest standing army is woefully short on ammunition and there hasn’t been a remarkable change in the last few years, the Comptroller and Auditor General told parliament on Friday. Such checks are essential to guard against wasteful expenditure. International Standards on Auditing (ISA), 1991-The IAPC and its successor, the IAASB, have issued International Standards on Auditing since 1991. Accountants General will deliberate on four sessions on audit planning, audit execution, audit reporting and accounting in a digital environment. Recently, CAG decided to evaluate the working of the scheme and commissioned ‘performance audit’ reviews covering select general category and special category States. Each review covers a contiguous five year period between 2000 and 2007, but varies across selected states. Our Role. The draft Annual Report and Accounts for the year ended 31 March 2017 is attached. Corporate Governance- Its meaning, Legal Provisions and Applicability in Public Auditing The audit body has observed that the Food Safety and Standards Authority of India (FSSAI) has not, prior to the engaging the 261 employee, identified their specific work, expected output and time Independent Standard-Setting Boards. This resource is a Self-Learning activity (Section 2) as defined by the Maintenance of Certification Program of the Royal College and endorsed by the Canadian Association of Gastroenterology (CAG). These standards determine the audit procedures that shall be applied in audit and constitute the criteria or benchmark against which the quality of audit results is evaluated. Planning for Audit of Corporate Social Responsibility. Performance Audit Report on Kudankulam Nuclear Power Project, Units I and II i Report No. We conducted our audit in accordance with Swiss law, International Standards on Auditing (ISAs) and Swiss Auditing Standards. REGIONAL TRAINING INSTITUTE, JAIPUR-302015 Gen. Executive Summary . 00 NHS England NHS Ambulance Services 2017 was a great and awesome year to Supreme Audit Institution of TANZANIA. Dear Professional Colleague, No Service Tax Audit by the Service Tax Department or CAG . DoT will pick from empanelled CAG auditors. 0 Applicable Auditing Standards and Reporting Procedures. Auditing & Assurance . Audit Board Later on,the International Accounting Standards Committee and the Accounting Standard board of the Institute of Chartered Accountants of India have developed standards on accounting and auditing practices to provide the guidance on the day to day work being undertaken by auditors and accountants. 09. 4. to be printed on 24 January 2017 This report has been prepared under Section 6 of the National Audit Act 1983 for presentation to the House of Commons in accordance with Section 9 of the Act Sir Amyas Morse KCB Comptroller and Auditor General National Audit Office 23 January 2017 HC 972 | £10. of the Company. Mr. The PCAOB establishes auditing and related professional practice standards for registered public accounting firms to follow in the preparation and issuance of audit reports. International Public Sector Accounting Standards (IPSAS) Cash basis of accounting and in the manner required by the Public Finance Act, 2001 revised 2004. At the time the IAPC stated: National standards on auditing and related services published in many countries differ in form and content. Morse, Comptroller and Auditor General, UK, United Nations Secretary-General BAN Ki-moon Audit Report (State Finance) of the Comptroller and Auditor General of India (CAG). With most of the SAIs in the INTOSAI community gearing towards the ISSAI as a common public sector auditing standards, it is a way forward approach for the RAA. reported in the previous Audit Reports. Those standards require me and my staff to comply with the Financial Reporting Council’s Revised Ethical Standard 2016. The CAG as an institution could partner with local citizens and state audit societies to train them, build capacities and issue advisories on framing of guidelines, developing criteria, methodology and reporting for audit Last month a new audit report of the Comptroller and Auditor General of India (CAG) was tabled in parliament. 1. Our responsibilities under those standards are described in the section below entitled “Auditor’s responsibilities for the audit of the financial statements”. The audit has been conducted in conformity with the Auditing Standards issued by the Comptroller and Auditor General of India. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated October 19, 2018 on our consideration of the C/CAG’s internal control over financial reporting and on our tests of Independent Standard-Setting Boards. In India, government audit is performed by an independent constitutional authority, i. Balasubramaniam, Mr. Public Procurement Bill. The audits are also conducted in accordance with the additional terms of reference Advancing Audit Quality Proactively and Comprehensively. Sharko and Grabowski introduced the topic and explained the ISA 540 Task Force’s activities since the September 2017 CAG meeting. 1100 Internal Audit Charter . The Government Auditing Standards require this peer review to be conducted every three years. . The Comptroller and Auditor General (C&AG) (Irish: An tArd-Reachtaire Cuntas agus Ciste) is the constitutional officer responsible for public audit in Ireland. The current CAG of India is Rajiv Mehrishi, who assumed the office on 25 September 2017. According to the CAG’s observations, the Food Safety and Standards Authority of India (FSSAI) is guilty of various lapses in enforcing food safety across the country. CAG 'deliberately delaying' report on Rafale deal, demonetisation: Former bureaucrats 13 Nov, 2018, 02. The IIA Standards comprise of the Definition of Internal Auditing, the Code of Ethics and the International Standards for the Professional Practice of Internal Auditing as issued by the global professional body, the Institute of Internal Auditors (IIA). 6 The increasing focus of the Audit Committee on risk is welcome. Shri Rajiv Mehrishi Comptroller and Auditor General of India. Budget allocation is made by the office of the Comptroller and Auditor General of India. Standards on Internal Audits by ICAI; ICAI’s Revised Guidance Note on Transfer Pricing, Report u/s 92E of Income Tax; Auditing, Review and Other Standards (AROS – formerly known as AAS) Guidelines on Auditing of Specific Industry / Aspects by ICAI; ICAI’s Revised Guidance Note on Tax Audit (2014 Edition) Applicable for AY 2017 According to the CAG’s observations, the Food Safety and Standards Authority of India (FSSAI) is guilty of various lapses in enforcing food safety across the country. 2. Kishore 2. The audit of the Food Safety and Standards Authority of India (FSSAI) comes against the (1) Training is imparted by the Regional Training Institute, Chennai (an ISO certified Institute) through Special courses, Workshops and Seminars. He is the 13th CAG of India. PRESENT. Basis for opinion We conducted our audit in accordance with the International Standards on Auditing. Offices, State Autonomous Bodies, Public Sector Undertakings coming under 8 Departments of the Government of Tamil Nadu in (32) Districts of the State. are envisaged in Article _______. 3 1 • General provisions relating to audit 1. This stand-alone volume contains performance reviews of various National Projects – irrigation schemes which were declared by the Union Government to be in the strategic national interest ten years ago – for the period 2008-2017. In respect of one Statutory Corporation, namely, Assam State Transport Corporation the CAG is the sole auditor. Public company auditors play a critical role in the capital markets. The Board conducts its audits in conformity with the International Standards on Auditing. com Internal Audit Department Honorable Mayor and Members of the Assembly: January 11, 2017 I am pleased to present for your review Internal Audit Report 2017-02, Anchorage Senior Activity Center: Contract Administration, Department of Health and Human Services. The National Audit Office have substantially completed their audit and expect to give an unqualified audit report. State Audit Report (Local Bodies) of the Comptroller and Auditor General of India. Examine its findings and recommendations. e. SECTION 1000 AUTHORITY, ORGANIZATION AND PROFESSIONAL STANDARDS . This has constrained the institutions of accountabilities like Office of the Comptroller and Auditor General (OCAG) and Public Accounts Committee (PAC) of the parliament from engaging professional firms for any specialized audit or in the formulation of rules for public and private sectors entities. Ltd. His administrative power will be governed by rules made by the President, in consultation with the former. The CAQ develops resources to support their independence, objectivity, and skepticism. CAG Compliance audit observation on Direct Taxes Report No. 4 Financial Auditing and Reporting: General Report by the Comptroller and Auditor General for Northern Ireland – 2017 Executive Summary their executive agencies in a non-competitive way since 2013-14, and welcome the progress made. > 40 Committee for Auditing Standards > 42 Committee for Auditor Ethics > 44 Inspections Committee > 46 Investigating Committee > 47 Disciplinary Committee Part F: Financial Information > 50 Report of the Audit and Risk Management Committee > 52 Report of the Auditor-General > 55 Annual Financial Statements based on our audit. for 1+3, enter 4. It has also broadened the ambit and scope of auditing by the Comptroller and Auditor General of India. CAG audit Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. other additional procedures in accordance with auditing standards generally accepted in the United States of America. ” Unmatched capabilities. The Office of the Comptroller and Auditor General is the public audit body for the Republic of Ireland and is headed by the C&AG. To the extent that it is appropriate to do so, the audit undertaken by CAG’s audit is looking at issues such as how FSSAI fixes standards, finalizes regulations, approves products, ensures compliance and conducts surveillance. Introduction about Corporate Social Responsibility and Provisions as per Companies Act 2013. Application of Manuals for the conduct of audit. The federal auditor has unmatched capabilities as far as auditing of telecom companies is concerned. Order No CAG-GB-1-MUNA-274(83)-Part-33-2017-2018-64 for Kathmundu and Kwait City . City Audit has been peer reviewed several times. Types of Company Audit – Statutory Audit – Internal Audit – Branch Audit – Joint Audit – Special Audit – CAG Audit 12. The training courses conducted by the Institute and attended by the officials of this office during the year 2017-18 is as follows: 02 CAG News January – June 2017 Trans-Regional program on the Audit of lending and Borrowing Frame work which was held for two days from 30-31 March 2017. Standards of Auditing . Regional Training Institute, Chennai Annual Training Calendar for the Year: 2017-2018 A) Profile I. The question paper will be of objective type consisting of 200 multiple choice questions. by INSIGHTS · December 23, 2017 1 Comptroller and Auditor General, Government’s management of its performance: progress with single departmental plans, Session 2016-17, HC 872, National Audit Office, July 2016. During the joint inspection of the selected 74 stations and 80 trains over Zonal Railways, the audit found that cleanliness and hygiene standards were not being maintained in the catering units at stations and on trains. Appointed by President. A n audit includes examination • To REPORT BACK on the September 2017 meeting • To DISCUSS proposed ISA 540 (Revised) and the conforming and consequential amendments Messrs. The staff members of City Audit have also participated in the peer review of other local government auditing offices. 2017 Principal Accountant General (G&SSA) is in-charge of audit of Accounts of the State Government and preparation of the Comptroller and Auditor General's Report on State Finances. Authority for Audit. The audit was conducted in accordance with the Auditing Standards generally accepted in India. 38 of 2017 Preface Nuclear Power Corporation of India Limited (NPCIL), a Public Sector Enterprise was formed on 17 September 1987 under the administrative control of the Department of Atomic Energy (DAE), Government of India (GOI). This slide library was co-developed with Takeda Canada and was developed to achieve scientific integrity, objectivity and balance. Article 148 – Independent office of CAG of India. The Statutory Auditors appointed by the Comptroller and Auditor General of India under Section 139(5) of the Act are responsible for expressing opinion on the financial statements under Section 143 of the Act based on independent audit in accordance with the Standards on Auditing prescribed under section 143(10) of the Act. Regulations on Audit and Accounts. CAG Report Summary Implementation of Food Safety and Standards Act, 2006 The Comptroller and Auditor General of India (CAG) released an audit report on the ‘Implementation of Food Safety and Standards Act, 2006’ on December 19, 2017. These Auditing Standards are effective from 1 April 2017. 4 2 • Audit of grants and loans to various bodies and authorities 1. Rajiv Mehrishi assumed office as the Comptroller and Auditor General of India on 25 September 2017. The project team based in the Clinical Effectiveness Unit (CEU) at the RCS carried out the analysis of the data for the 2017 Annual Report. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements. GOVERNMENT ACCOUNTING RULES, 1990 Preamble - In exercise of the powers conferred by Article 150 of the Constitution, the President on the advice of the Comptroller and Auditor General, hereby makes the following basic rules relating to the form of National Audit Office (NAO) on behalf of the Comptroller and Auditor General (see note below). 6 The review was undertaken by: evaluating work undertaken by Internal Audit; His educational background, including a Masters in IT auditing, equipped him well to deal with and embrace the modern auditing standards promulgated by INTOSAI, the International Organization of Supreme Audit Institutions. FINANCIAL YEAR ENDED 30 JUNE 2017 . India News: CAG Shashi Kant Sharma, who demits office today after a four-year term, spoke to Pradeep Thakur about DeMon & more You had said you would audit the de. The bill passing authority is the PAO/Indian Audit Department, Bangalore for all Group A Officers and the FA & CAO/South Western Railway for all Group B and C staff of this Office CAG of India. Auditing Standards issued by the INTOSAI Suggested Reading:1. 2. The Government Internal Audit Agency (‘GIAA’ or ‘the Agency’) was set up to . Mohammad Suhail Fazal is a Doctor and an IA&AS officer currently posted at Office of The Accountant General (G&SSA) , Madhya Pradesh, Gwalior as Deputy Accountant General (Social Sector Audit-I) in charge of audit of Local Bodies i. 2017 to 20. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Food Safety and Standards Act, 2006 was enacted to: (i) consolidate multiple laws in the Independent Standard-Setting Boards. Comptroller and Audit General of India (C&AG), through the Indian Audit and Accounts As efforts are being made to extend social audits to new areas, it is important to look at how well they are actually implemented based on parameters specified in the auditing standards jointly pioneered by the Comptroller and Auditor General (CAG) and the Ministry of Rural Development. The Irish Constitution states that a Comptroller and Auditor General must be appointed. Although the audit was carried out by officers of Indian Accounts and Audit Department (IAAD) between February and June 2017 and the draft audit report was submitted to KSPCB and the state government in August 2017, the report was published on CAG’s website only on May 10, 2018. by INSIGHTS · March 14, 2018 Auditing. 5400/. 6) An audit of Food Safety and Standards Authority of India (FSSAI), the country’s premier watchdog on the food, by the Comptroller and Auditor General of India (CAG) reveals gaps in the working of the body. on the work undertaken in the course of the audit, having regard to the guidance issued by the Comptroller and Auditor General (C&AG) in November 2017, we are satisfied that, in all significant respects, Hertsmere Borough Council put in place proper arrangements to secure economy, efficiency and effectiveness in its use International Public Sector Accounting Standards (IPSAS). 6/2017 SCHEME AND SYLLABUS (i) Preliminary Examination The Preliminary Examination will consist of only one paper on “General Studies”. 1200 Policy on Dual Reporting for Internal Audit . Vs. Cyril Paul of AG(A&E) Nagpur and thought that hosting these on the website would be useful to AAOS/AOs/SAOs appearing for CPD. The general principles relating to the basic audit concepts and those relating to the audit process applicable to all types of public sector audits constituting the general standards have been described in Chapter 2. Audit in India Jump to It is governed by the Indian Accounting Standards who assumed the office on 25 September 2017. Video podcast - Report 3 of 2014 - Performance Audit on Kaziranga National Park-Issues and Challenges of Government of Assam. It claimed that food articles that were declared unsafe by it remain up for sale in markets due to lack of adequate monitoring. 6nment Internal Audit Agency – Corporate Plan 2017-18Gover Who we are. India. 2016/17 External auditor re ort (EX0020) Annex B. Two Audit Committee meetings were held during the Relevant Period to review and discuss risk management, internal control and financial reporting matters including a review of the financial statements for the six months ended 30 June 2017 and the year ended 31 December 2017. Henry Rees Mr. 19 has raised several concerns over clearances and testing of food, the lack of equipment other Vote Holders. Decision Audit Committee is requested to review and recommend the document to Council for approval. 1 Applicable Auditing Standards The National Audit Office of Tanzania is a member of the International Organization of Supreme Audit Institutions (INTOSAI), the African Organization of Supreme Audit Institutions (AFROSAI), and the African The CIS Critical Security Controls for Effective Cyber Defense. Military expenditure is subject to audit, similar to that of any other government department. On behalf of National Audit Office of Tanzania (NAOT), wishes you Happy New Year 2018 God bless… Read the full article. Kay Scheller, President of the German Supreme Audit Institution, Sir Amyas C. Social Sector:. Manual of Audit of Autonomous Bodies issued by this office 3. Section 13, 14, 19 and 20 of Comptroller and Auditor General's (DPC) Act, 1971. Revised Standards Revised Internal Audit Standards due for publication in early 2018 provide for the strengthening of audit functions across Government Departments and bodies. The training is in line with the RAA’s move towards adopting ISSAIs as the authoritative standards. However, it is proposed that the responsibility for the development and adoption of educational standards remain with IFAC. Compliance audit is conducted mainly as part of requirements of CAG stipulations of Audit and Accounts. We have conducted our audit in accordance with auditing standards generally accepted in India. Performance Audit Guideline . Auditors will undertake their work under the requirements of the Code of Audit Practice and supporting guidance published by the National Audit Office on behalf of the Comptroller and Auditor General, the financial reporting requirements set out in the Code of Practice on Local Authority Accounting published by CIPFA/LASAAC, and the The SANS Consensus Audit Guidelines (CAG) is a compliance standard that specifies 20 "control points" that have been identified through a consensus of federal and private industry security professionals. FAAS develops globally accepted auditing guidelines for the public sector. 10. Application of Manuals for the conduct of audit - Manual of Standing Orders (Audit) issued by the CAG of India - Manual of Audit of Autonomous Bodies - Auditing Standards - ISC Manual Independent Standard-Setting Boards. Panchayat Raj Institutions, Urban Local Bodies. . 126/2018 and adopt auditing and assurance standards and ethical standards for auditors, rather than the current three separate boards. Bill gives free hand to CAG to audit GST operation March, 28th 2017 After a series of communication with the Union finance ministry, it has been decided to drop the particular reference on the role of the Comptroller and Auditor General in the Goods and Services Tax (GST) Bill that had restricted the audit parameters of the government's – Overview of Auditing and Assurance Standards- National and International 11. The Report contains significant results of the audit of the Panchayat Raj Institutions and Urban Local Bodies in the State including the departments concerned. Draft Minutes of the Public Session of the Meeting of the . Basis of opinion I conducted my audit of the accounts in accordance with the International Standards on Auditing (ISAs) as promulgated by the International Organisation of Supreme Audit Institutions. Auditing Principles and Standards Financial and Compliance Audit. Accounting Legislation 41 The mission of the Government Accounting Standards Advisory Board (GASAB) is to formulate and recommend Indian Government Accounting Standards (IGASs) for cash system of accounting. Internal Audit – Forms of Audit - Propriety Audit, Compliance Audit and Efficiency Audit It is the CAG’s audit reports which helps ensure executive’s accountability to the Parliament in the sphere of financial administration. The audit has been conducted in accordance with the Auditing Standards issued by the Comptroller and Auditor General of India. 1 of (2016-2017) : Performance Audit on Public Sector Undertakings (Economic Sector) This Report contains one performance audit on Integrated Kashang Hydro Electric Project and 13 parag Authority for Audit. The Comptroller and Auditor General (CAG) of India is an authority, established by Article 148 of the Constitution of India, which audits all receipts and expenditure of the Government of India and the state governments, including those of bodies and authorities substantially financed by the government. 5 on grants and subsidies prepared in 2017 but not issued as at 30 September 2017; and arrangements in place within grant recipients. 61 per cent of Indirect Tax revenue in FY15. 2012. From 19th to 22nd September 2018 the State Audit Office of Vietnam (SAV) hosted the 14th ASOSAI Assembly and the 7th ASOSAI Symposium on "Environmental Audit for Sustainable Development" in Hanoi, Vietnam. Our work does not constitute an audit carried out in accordance with International Standards on Auditing (UK & Ireland) and does not provide the same level of assurance that such an audit would do. Union of India And Ors 2016 (6) TMI 163 - DELHI HIGH COURT] on the following issue: The water quality in eight of 10 towns surveyed along the Ganges did not meet outdoor bathing standards. However, although the Audit Committee has undertaken a significant volume of work related to risk: the work on review and challenge of risk management policies and procedures has been limited. Basis for Opinion I conducted my audit in accordance with International Standards of Supreme Audit Institutions (ISSAls). You will receive a link to create a new password. Compliance audit is the independent assessment of whether the financial transactions were carried on as per the requirements and regulations of the authorities governing the entity. Suggested Readings: 1. The CIS Critical Security Controls are a recommended set of actions for cyber defense that provide specific and actionable ways to stop today's most pervasive and dangerous attacks. We are sharing with you an important judgement of the Hon’ble Delhi High Court in the case of Mega Cabs Pvt. Preface This Report for the year ended March 2017 has been prepared for submission to the Governor of Karnataka under CAG’s DPC Act, 1971. Introduction: The Regional Training Institute, Chennai, established in the year 1979, is one of the pioneering training institutes of the Indian Audit and Accounts Department. CHAPTER-3 Specific Standards 3. INTERNATIONAL ETHICS STANDARDS BOARD FOR ACCOUNTANTS CONSULATIVE ADVISORY GROUP (CAG) Held on March 6, 2017 in New York, USA . It The CAG said its audit found "systemic inefficiencies, delays and deficiencies in the framing of various regulations and standards, amendments to regulations in violation of the Act and the Dr. WEST BENGAL AUDIT AND ACCOUNTS SERVICE RECRUITMENT EXAMINATION, 2017 ADVERTISEMENT NO. relating to the period after 31 March 2017 have also been included, wherever necessary. May 12 2017 Comptroller and Auditor General of India Wikipedia December 16th, 2018 - The Comptroller and Auditor General CAG of India is an authority established by Article 148 of the Constitution of India which audits all receipts and expenditure of the Government of India and the CAG creating multiple databases to make audit more transparent - The Comptroller & Auditor General of India (CAG) is creating multiple databases that will help the institution access various sources of information to make audit process more transparent and accountable, the CAG Shashikant Sharma said today. Their report is item 10 on the agenda. The Comptroller and Auditor General. The financial statements comprise the: • Authority and Group Movement in Reserves Statement, FAAS is one of subcommittees under INTOSAI Professional Standards Committee (PSC) focused on the achievement of developing high-quality and widely recognized international professional standards for public-sector auditing. His educational background, including a Masters in IT auditing, equipped him well to deal with and embrace the modern auditing standards promulgated by INTOSAI, the International Organization of Supreme Audit Institutions. Opinion on the Authority’s financial statements We have audited the financial statements of Thurrock Council for the year ended 31 March 2017 under the Local Audit and Accountability Act 2014. Standards. City of Orlando Peer Review Report March 2017. December 2017 and the residual balances at that date Basis of opinion I conducted my audit of the account in accordance with the International Standards on Auditing (ISAs). – CAG holds the office for a period of 6 years or till 65 years of age whichever is earlier. As efforts are being made to extend social audits to new areas, it is important to look at how well they are actually implemented based on parameters specified in the auditing standards jointly pioneered by the Comptroller and Auditor General (CAG) and the Ministry of Rural Development. John Kuyers Mr. The Irish Auditing & Accounting Supervisory Authority adopts auditing standards for use in Ireland under licence from the Financial Reporting Council in the United Kingdom. The audit could open up not only significant revenue for the government, but also raise questions over accounting and reporting standards of some private telecom firms. These Standards require that we plan and perform the audit to obtain reasonable assurance that the accounts are free from material misstatement. Supplementary Audit by CAG Auditing Standards Internal Audit Secretarial Audit Cost Audit . CAG has generally done a good job and kept a watchful eye on government’s profligacy and violation of rules. The There are four boards supported by IFAC, of which two set auditing and ethical standards. Internal Audit – Forms of Audit - Propriety Audit, Compliance Audit and Efficiency Audit Performance Audit Subcommittee. ensuring adherence to auditing standards. The Performance Audit Subcommittee (PAS) was created by the Professional Standards Committee (PSC) in September 2005. E. An audit includes examination, on a test basis, of UNCTAD-Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting Workshop on practical implementation of IPSAS Tuesday, 31 October 2017 Room XVII, Palais des Nations, Geneva Afternoon Session Presentation Presented by Frans van Schaik Global Leader Public Sector Accounting & Auditing Deloitte To make the audit process more transparent and accountable, the Comptroller & Auditor General of India (CAG) is in the process to create multiple databases that will help it access various sources of information. 2,87,149 crore during financial year 2015-16 (FY 16) and accounted for 40 per cent of Indirect Tax revenue in FY 16. 5. It is clear throughout this General Report that standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. A brief summary of the report is presented below. Solve this simple math problem and enter the result. The CAG talks about his office’s expanding role, from cricket to the UN, over and above its primary mandate of monitoring government expenditure At a time when audits are getting complex The mission of the IT Audit initiative was to create an enabling environment in Indian Audit and Accounts Department to conduct IT Audits effectively within the C&AG's mandate; to raise the level of competence of the staff and officers of the department so that they can undertake audit in a computerised environment in a most professional manner; and to adopt and evolve such standards and Audit Reports for the year 2016-2017 has been laid down in State Legislature on 5th April 2018 The Comptroller and Auditor General of India (CAG) has highlighted several flaws in the Union government’s accounting procedures for the financial year 2015–16, which could have led to an Dated- 30-03-2017 Page- 05 FSSAI performance comes under CAG scanner New Delhi: In a first, the Comptroller and Auditor General of India (CAG) is doing a comprehensive performance audit of the country’s food regulator. Now let us welcome 2018 with commitment and optimistic that this year will work more hard to support our country and nation as a whole. 1 – Organizational Chart CPD Exam : We have received lots of material from RTI Chennai, Mr. Instances relating to the period subsequent to 2015-16 have also been included, wherever necessary. Internal Audit Forum (“HIAF”). Member Organizations Executive Summary of CAG Report No. Work graded using the CAG reflects complexity and impact equivalent to those specified in OPM standards for that grade, assuming normal supervision. 6. My responsibilities under those standards are described in the appendix to this report. – Overview of Auditing and Assurance Standards- National and International 11. for the year ended 31 March 2017 The audit has been conducted in conformity with the Auditing Standards issued by the Comptroller and Auditor General of India. The performance audit report on implementation of Goods and Services Tax (GST) could be tabled in Parliament as early as in the forthcoming Winter session beginning December 11, according to sources, The CAG is auditing the functioning of the new indirect tax regime since its implementation on July 1, 2017. Grade Pay Rs. CAATs Computer Assisted Audit Techniques CAG Controller and Auditor General ISA International Standards on Auditing ISSAI 1000-2999 General Auditing Guidelines on Financial Audit ISSAI 1003 – Glossary of Terms to the INTOSAI Financial Audit Guidelines ISSAI 1200 – Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards of Auditing operations of UNRWA for the year ended 31 December 2017 in accordance with General Assembly resolution 74 (I) and in conformity with the International Standards on Auditing. IESBA Meeting (June 2017) Agenda Item 1-C. 7 3 Presentation by Isabelle Tracq-Sengeissen, former International Auditing and Assurance Standards Board (IAASB) technical advisor, at the FIDEF annual general meeting. Our responsibilities under those provisions and standards are further described in the Auditor's responsibilities for the audit of the consolidated financial statements section of our report. In its audit reports tabled in Parliament, the Comptroller and Auditor General (CAG) has highlighted issues such as poor hygiene and food quality in trains to critical shortage of ammunition in Recently, the Comptroller and Auditor General of India (CAG) released an audit report on the ‘Implementation of Food Safety and Standards Act, 2006’ . Accounting and Auditing Standards 34 International Public Sector Accounting Standards 35 International Education Standards 35 International Financial Reporting and International Accounting Standards 36 INTOSAI Code of Ethics and Auditing Standards 37 International Standards on Auditing 40 Annex C. MSO (Audit) including financial attest audit manual 5. A. 1 Introduction. The Comptroller and Auditor General publishes his Report to Dáil Eireann on the results of his examination of the 2017 Accounts of Government Departments and Offices. We are independent of the Fund, in Office of the Principal Accountant General (General & Social Sector Audit), Lekha Pariksha Bhavan, 361, Anna Salai, Teynampet, Chennai 600018 Web Administrator: agautamilnadu1@cag. These are collectively known in the UK as the International Professional Practices Framework (“IPPF”). Prepared by: IESBA Staff (April 2017) Page 1 of 17. CHAPTER X-Audit and Auditors Ravi Kiran Vustela 8187065642 Page 1 Summary Sections Particulars 139 Appointment of auditors 140 Removal, resignation of auditor and giving of special notice 141 Eligibility, qualifications and disqualifications of Auditors 142 Remuneration of auditors 143 Powers and duties of auditors and auditing Standards In 2017, The Director of Finance and the National Director of Internal Audit attended meetings of the Committee, while the CEO and other members of the Senior Management Team (SMT) attended where necessary. An audit report (pdf) by the Comptroller and Auditor General of India (CAG) tabled in parliament on Dec. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the consolidated financial statements section of our report. From left to right: Mr. Mr Prada has been the Chair of the Trustees since 1 January 2012 and was due to retire from the Trustees at the end of 2017. 2017 PROGRAMME SESSION TIMINGS NON-SESSION TIMINGS NON-SESSION DAYS INVITATION TO COMMENT ON INTERNATIONAL AUDITING AND ASSURANCE STANDARDS BOARD'S (IAASB) SURVEY CONSULTATION, THE IAASB'S WORK PLAN FOR 2017-2018 AND CONTINUING RELEVANCE OF ITS STRATEGIC OBJECTIVES Comments to be received by 30 August 2016 The Hong Kong Institute of Certified Public Accountants' ("Institute") Auditing and audits, in accordance with international auditing standards, the Comptroller and Auditor General, in undertaking his audit, has sought to rely on that audit work to avoid unnecessary duplication and expense. It is presumed that the special audit will be only by the CAG and if they want an authentic audit it has to be by CAG. The Comptroller and Auditor General of India’s (CAG) audit report on the performance of FSSAI and implementation of the Food Safety and Standards Act, 2006 found shortcomings. none of the above Duties and powers of CAG in relation to the accounts of the Union and the States etc. Manual of Audit of local bodies : Audit Activity Demonetisation per se is a banking and money supply issue and as such, outside CAG’s audit jurisdiction. According to a statement from the CAG, the overarching theme for the two-day conference is ‘auditing and accounting in a digital era’. Office of the Comptroller and Auditor General Annual Report and Accounts for the year ended 31 December 2017 Prepared in discharge of the responsibility in Article 19 of the Comptroller and Auditor General (Jersey) Law 2014 R. inspection Reports/ CAG's Audit Reports separately. The PIOB 2017–2019 strategy consultation and feedback statement coincides with the current Monitoring Group (MG) initiative to improve the audit-related standard-setting framework and has been consulted with the MG. This paper aims to provide working knowledge of generally accepted auditing procedures and of techniques and skills needed to apply them in audit engagements. gov. 2 1 • Compilation of accounts 1. Auditing Standards issued by the CAG of India. Since it conducts audit of expenditure on behalf of the Parliament, it is an agent of the Parliament and thus responsible only to it. Training Schedule for 2017-18 7 The focus of our training is on emerging areas and new developments in auditing including international best practices and INTOSAI auditing standards. Auditing Standards. My responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of my certificate. Central Excise collection was Rs. CAG had started auditing telecoms a few years ago, but the exercise got stalled when the private companies moved court. Officials from the Office of the Comptroller and Auditor General, the Agency’s external 2 . CAG’s audit is looking at issues such as how FSSAI fixes standards, finalizes regulations, approves products, ensures compliance and conducts surveillance. “The Monitoring Group notes that there is a legitimate concern The effect of this Order is to require the Comptroller and Auditor General (“C&AG”) to audit the accounts of—the Ebbsfleet Development Corporation for the financial years ending on and after 31st March 2018,the Housing Ombudsman for the financial years ending on and after 31st March 2018, andthe companies mentioned in article 4 for the financial years beginning on and after 1st April 2017. 1 1 • Duties and Powers of the Comptroller and Auditor General 1. The audit of Statutory Corporations is governed by their respective legislations. This will again require internal and external assessments of Internal Audit under a Quality Assurance and Improvement Programme. The International Auditing and Assurance Standards Board (IAASB) develops and issues auditing and assurance standards and pronouncements for global use, which have been adopted by over 120 jurisdictions. We conducted our audit in accordance with International Standards on Auditing (ISAs). The main function of the Comptroller and Auditor General is to carry out an audit every year of the State's accounts. GENERAL AUDIT MANUAL ADMINISTRATIVE MANUAL EXCERPTS Page 4 INTRODUCTION TO THE AUDIT MANUAL This Audit Manual is a compilation of current audit policies, procedures, and guidelines of the Audit & Compliance Division of the New Mexico Taxation and Revenue Department. 43PM IST. CAG Audit is known as audit of public enterprises done by Comptroller and Auditor General of India and here we will be discussing about Government Audit as CAG audit. The CAG report is a major setback for the indigenization effort of the “Make In India” initiative championed by the prime minister to reduce India’s dependence on imported arms. improve the quality of internal audit provided to central government. Examine the findings of CAG and their significance. E. in Updated on 06. Scribd es red social de lectura y publicación más importante del mundo. This audit and assurance alert is being issued to raise awareness of the new enhancements to the Public Company Accounting Oversight Board (PCAOB) auditor reporting standards and their impact on the 2017 Combined CAS and PCAOB Auditor's Report. Section 13 and Section 14 of CAGs (DPC) Act, 1971. Ravi M. Prepared by: IAASB Staff Page 1 of 14 Minutes of the 87th Meeting of the INTERNATIONAL AUDITING AND ASSURANCE STANDARDS BOARD (IAASB) Held on September 18–22, 2017 in New York City, USA The International Standards of Auditing (ISAs) have been developed by The International Federation of Accountants The International Auditing Practices Committee an integral part of an audit performed in accordance with Government Auditing Standards in considering the C/CAG’s internal control over financial reporting and compliance. The CAG will not do the audit. The identification of his successor has taken longer than anticipated and therefore Mr Prada has agreed to remain in place until the appointment process is completed. CAG audit Blogs, Comments and Archive News on Economictimes. Auditee Institutions: All the Tamil Nadu State Govt. Professional Auditing Standards and Guidelines (1980) which is equally broad where it is stated that, “An audit is the independent examination of, and expression of an opinion on, the financial statements of an enterprise by an appointed auditor Annual Report 2017 Auditing and Assurance Standards Board 3 Annual Report 2017 About the Auditing and Assurance Standards Board The AASB is an independent standard-setting body designated by, and operating under the auspices of the MIA to set high quality standards for quality control, auditing, review, other assurance and related services, The Comptroller and Auditor General of India (CAG) Shashi Kant Sharma is mulling over auditing the impact of demonetisation and the affect it has had on government tax revenues, a PTI report said. Manual of Standing Orders (Audit) issued by the Comptroller & Auditor General of India. Internal Audit – Forms of Audit - Propriety Audit, Compliance Audit and Efficiency Audit on Public Sector Undertakings The audit has been conducted in conformity with the Auditing Standards Comptroller and Auditor General of India (CAG) under the 1 The IAASB develops auditing and assurance standards and guidance by use for all professional accountants under a shared standard-setting process involving the Public Interest Oversight Board (PIOB), which oversees the activities of the IAASB, and the IAASB Consultative Advisory Group, which 15. Comptroller and Auditor General (CAG) of India - Is the supreme Audit institution of India. The Comptroller and Auditor General of India (CAG) has come down heavily on the Union Health Ministry and its body FSSAI for not framing regulations governing various procedures, guidelines and mechanisms in line with the provisions of the Food Safety and Standards Act, 2006. The Irish Auditing and Accounting Supervisory Authority (IAASA) is the independent body in Ireland responsible for the: - the inspection and promotion of improvements in the quality of auditing of Public Interest Entities (‘PIEs’). We conducted our audit in accordance with the International Standards on Auditing. In our opinion, the accompanying supplementary information for the year ended June 30, 2017, in the combining general fund schedules and combining nonmajor and agency fund Information. 13/2017-18 For Muscat and Brunei Office of the The CAG is ranked 9th and enjoys the same status as a judge of Supreme Court of India in Indian order of precedence. Pleasant Hill, California October 26, 2017 The International Auditing and Assurance Standards Board is an independent standard-setting body that serves the public interest by setting high-quality international standards for auditing, assurance, and other related areas, and by facilitating their adoption and implementation. Audit Officers cadres constitute the cutting edge of the professional workforce of the Comptroller and Auditor General of India. Day-5. The Institute of Internal Auditors (IIA Global) has developed standards and guidance for the practice of internal audit. 13: International Standards of Supreme Audit Institutions 18. Lost your password? Please enter your email address. 3 of 2017 Revenue Indirect Taxes Central Excise. IAASA is divided into operational units More. Yoseph Asmelash International Accounting Standards Board Information Systems Audit and Control Association United Nations Conference on Trade & Development FSSAI Responds to the CAG Audit Report on Performance of FSSAI. The Report identifies issues, which in his opinion, merit consideration by the Committee of Public Accounts in the interests of transparency and accountability. 3 of 2016 – Compliance Audit on Direct Taxes Department of Revenue Union Government “This Report for the year ended March 2015 has been prepared for submission to the President under Article 151 of the Constitution of India. We conducted our audit in accordance with the Auditing Standards promulgated by the Comptroller and Auditor General of India. 2 Comptroller and Auditor General, Capability in the civil service, Session 2016-17, HC 919, National Audit Office, March 2017. 202,Audit Team No. CAG is derived from positions description factors listed in the Office of Personnel Management (OPM) Standards
WAP phones present challenge in war on porn