Para 7.3.11 — MSO (Audit)
Original Rule Text
7.3.11 Depending on the requirements, Audit Boards, on a selective basis, have also been constituted in certain States where Commercial Audit Reports are separately prepared.
What This Means
Similar Audit Boards may also be set up at the State level for reviewing State Government commercial undertakings. These are constituted on a selective basis in States where separate Commercial Audit Reports are prepared, depending on the requirements and volume of commercial audit work in that State.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1State-level Audit Boards can be constituted for commercial undertaking reviews
- 2Set up selectively based on the requirements of each State
- 3Applicable in States where separate Commercial Audit Reports are prepared
- 4Follows the same principle as the Central Audit Board under Para 7.3.10
Practical Example
A large State with several state-owned enterprises — including a transport corporation, an electricity board, and a mining corporation — constitutes a State Audit Board to conduct comprehensive appraisals. The Board selects the transport corporation for review this year due to persistent losses reported over the past three years.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Do all States have Audit Boards?▼
Is the composition of State Audit Boards the same as the Central one?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.