Para 4.3 — MSO

4.3 Under Article 150 of the Constitution, the forms of the accounts of the Union and State Governments have been prescribed by the President on the advice of the Comptroller & Auditor General. The word ‘from’ used in Article 150 has a comprehensive meaning so as to include the prescription not merely of the broad form in which the accounts are to be kept, but also the basis for selecting the appropriate heads under which the transactions are to be classified.

Rules and directions under this Article regulate the classification of all financial transactions. The incidence of charges is regulated by directions issued under Article 150. The Comptroller & Auditor General by virtue of the duties vested in him by the Comptroller & Auditor General’s (D.P.C.S.) Act, 1971 is responsible for securing that entry of financial transactions in the accounts conforms to such forms, rules and directions.