Regulation 11 — Audit Regulations 2020
Original Rule Text
11. Advice by the Comptroller and Auditor General on certain issues The Comptroller and Auditor General would advise the executive in matters such as accounting standards and policies and the form of accounts/financial statements (especially but not restricted to advice as provided under Article 150 of the Constitution of India).
What This Means
The CAG advises the government on accounting standards, policies, and the format of financial statements. This advisory role is especially important under Article 150 of the Constitution, which requires the accounts of the Union and States to be kept in the form prescribed by the President on the advice of the CAG. However, this advisory function extends beyond just Article 150 matters.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1CAG provides expert advice on accounting standards and policies to the executive
- 2Advice covers the form and format of accounts and financial statements
- 3Article 150 of the Constitution specifically mandates presidential prescription of account forms on CAG's advice
- 4Advisory role is broader than just Article 150 — covers all accounting matters
- 5This is a proactive, constructive role distinct from the CAG's audit function
Practical Example
The Ministry of Finance is designing a new accounting framework for autonomous bodies. The CAG's office advises on which accounting standards (e.g., Indian Government Accounting Standards) to adopt, the structure of financial statements, and the disclosure requirements. This advice helps ensure uniformity and auditability of accounts across government bodies.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Is the CAG's advice on accounting standards binding on the government?▼
Does this advisory role create a conflict of interest with audit?▼
What kind of accounting policies does the CAG advise on?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.