Regulation 43 — REGULATIONS_AUDIT

(2) The Finance Accounts of the Government show the receipts and disbursements of the Government for the financial year, together with the financial results disclosed by the revenue and capital accounts, the accounts relating to public debt and assets and other liabilities as prescribed.

(3) The Appropriation Accounts of the Government show the expenditure of the Government compared with the amounts authorised by the legislature with explanations for significant variations between the two by way of saving or excess beyond the prescribed limits of such variations.

(4) Financial audit is carried out as per Auditing Standards, manuals, guidelines and other relevant orders issued by the Comptroller and Auditor General.

(also refer Chapter 5 of these Regulations which covers some checks performed as part of financial audit of Government)

43. Broad framework of financial audit of Government (1) The Comptroller and Auditor General examines and certifies the Finance Accounts and the Appropriation Accounts of the Union and of each State and the Union Territory having a legislative assembly, irrespective of the agency that is responsible for their compilation.