Regulation 115 — Audit Regulations 2020
Original Rule Text
115. Audit as per provisions of laws and agreed terms and conditions
The audit under Section 19(3) or under Section 20 of the Act shall be conducted in accordance with the provisions of relevant laws and terms and conditions agreed upon between the Comptroller and Auditor General and the concerned Government, wherever applicable. Subject to the above, the audit of such corporations and the bodies or authorities shall be conducted in accordance with these Regulations.
What This Means
Audits conducted under Section 19(3) or Section 20 of the CAG's Act must follow the relevant laws and any terms and conditions agreed between the CAG and the government. Subject to these, the audit must also comply with these Regulations (Regulations on Audit and Accounts 2020). This creates a three-tier framework: law first, then agreed terms, then these regulations.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Three-tier hierarchy: relevant laws > agreed terms and conditions > these Regulations
- 2Applies to both Section 19(3) and Section 20 entrustment audits
- 3Terms and conditions are agreed between CAG and the concerned government
- 4These Regulations apply as the default framework where specific terms don't override
- 5Ensures consistency while allowing flexibility for special cases
Practical Example
The CAG is entrusted with auditing a state transport corporation under Section 19(3). The state's Transport Corporations Act has specific audit provisions. An agreement between the CAG and the state government adds terms on audit fees and reporting timelines. For everything not covered by the Act or the agreement — such as how audit queries are issued or how observations are followed up — these Regulations (2020) apply.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
What if the agreed terms conflict with these Regulations?▼
Are the agreed terms documented somewhere?▼
Do these Regulations always apply as a fallback?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.