Regulation 164 — Audit Regulations 2020
Original Rule Text
# 164. Form of accounts
(1) Detailed rules relating to maintenance and rendition of accounts by treasuries and public works divisions are contained in Accounting Rules for Treasuries and the Account Code, Volume III issued by or with the approval of the Comptroller and Auditor General. Detailed rules and instructions
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relating to the forms in which the initial and subsidiary accounts shall be kept and rendered by the Department of Posts and other technical departments are laid down in the respective accounts manuals or departmental regulations relating to the department concerned.
(2) The format of accounts in respect of autonomous bodies and authorities other than Government establishments and companies is prescribed by the concerned Government in consultation with the Comptroller and Auditor General. In case of autonomous bodies and authorities of Union Government, a common format has been prescribed by the Government with the concurrence of the Comptroller and Auditor General. This common format is applicable to all autonomous bodies and authorities except a few such as Port Trusts for which separate formats are applicable. The State Governments may also adopt the common format applicable to the autonomous bodies of the Union Government, for the autonomous bodies of the States.
What This Means
This regulation covers the detailed rules for maintaining and submitting accounts across different types of government entities. Treasuries and public works divisions follow the Accounting Rules for Treasuries and Account Code Volume III (issued by or with CAG approval). Departments like Posts have their own departmental accounts manuals. For autonomous bodies, the account format is prescribed by the government in consultation with the CAG — a common format applies to most Union Government autonomous bodies, and states may adopt it too. For Panchayati Raj institutions and urban local bodies, the CAG has recommended accounting formats that have been accepted by the Union Government and adopted by many states.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Treasuries follow the Accounting Rules for Treasuries and Account Code Volume III
- 2Technical departments (Posts, etc.) have their own departmental accounts manuals
- 3Autonomous bodies' account format is prescribed by government in consultation with CAG
- 4A common format applies to most Union Government autonomous bodies
- 5CAG-recommended formats for Panchayati Raj and urban local bodies have been widely accepted
- 6Port Trusts and some specialized bodies have separate prescribed formats
Practical Example
A newly established autonomous body under the Ministry of Science and Technology needs to set up its accounting system. The body adopts the common format prescribed for autonomous bodies of the Union Government, which includes standards for maintaining cash books, preparing annual accounts, and classifying expenditure. Meanwhile, the Panchayat Raj Department in Rajasthan directs all gram panchayats to follow the accounting format recommended by the CAG and accepted by the Union Government, ensuring uniformity in rural local body accounts across the state.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Why do different entities follow different accounting rules?▼
Are Panchayati Raj institutions bound to follow the CAG's recommended format?▼
What is the role of the CAG in prescribing formats for autonomous bodies?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.