Regulation 40 — Audit Regulations 2020
Original Rule Text
40. Audit to be governed by orders of the Comptroller and Auditor General
Audit of assets and liabilities shall further be governed by any general or special orders issued by the Comptroller and Auditor General.
What This Means
The audit of government assets and liabilities is subject to any additional general or special orders that the CAG may issue from time to time. This gives the CAG flexibility to provide specific instructions, methodologies, or focus areas for asset and liability audits as circumstances evolve.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1CAG can issue additional general or special orders governing asset/liability audit
- 2These orders supplement the broad principles stated in Regulation 39
- 3Provides flexibility for the CAG to adapt audit approaches as needed
- 4Both general orders (applying broadly) and special orders (for specific situations) are covered
Practical Example
The CAG issues a special order directing all AG (Audit) offices to conduct a focused audit of State government guarantees, given rising contingent liabilities across states. This special order under Regulation 40 prescribes specific verification procedures — such as confirming guarantee amounts with banks and checking if guarantee fees were collected — that supplement the broad audit principles.
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 the difference between a general order and a special order?▼
Do these orders override the Regulations?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.