Para 1.1.10 — MSO (Audit)
Original Rule Text
1.1.10 Section 17 of the Act vests in the Comptroller and Auditor General the authority to audit and report on the accounts of the stores and stock kept in any office or department of the Union or a State or a Union Territory.
- Audit of Government Companies
What This Means
Under Section 17 of the CAG Act, the CAG has the authority to audit and report on the accounts of stores and stock held in any office or department of the Union, States, or Union Territories. This means physical inventory and stock records maintained by government departments are subject to CAG audit.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Section 17 authorizes audit of stores and stock accounts
- 2Applies to any office or department of Union, State, or Union Territory
- 3CAG can audit and report on how government stores are accounted for
- 4Covers physical inventory, stock registers, and related records
Practical Example
A government hospital maintains stores of medicines, surgical equipment, and consumables worth crores of rupees. The CAG audit team can inspect the stock registers, verify physical inventory against records, and check whether stores are being properly accounted for — including looking for wastage, pilferage, or excess procurement.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
What is stores and stock audit?▼
Which government offices are covered under stores audit?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.