Regulation 85 — Audit Regulations 2020
Original Rule Text
85. Accounts of bodies and authorities to be made available to Audit
The body or authority under the audit jurisdiction of the Comptroller and Auditor General shall make its duly approved accounts available for audit as per time schedule that may be prescribed by the laws governing such body or authority or else by the Comptroller and Auditor General.
Regulations on Audit and Accounts 2020 50
(b) Audit of Bodies and Authorities substantially financed from Union or State Revenues
What This Means
Bodies and authorities under CAG audit must make their approved accounts available for audit according to the time schedule prescribed by their governing law. If no time schedule is prescribed in their governing law, the CAG can prescribe one. This ensures audit of these entities is not delayed indefinitely due to accounts not being made available.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Bodies must make duly approved accounts available for audit
- 2Time schedule follows the body's governing law (if prescribed)
- 3If no time schedule exists in the governing law, CAG prescribes one
- 4Accounts must be 'duly approved' before being submitted for audit
- 5This prevents delays in audit due to non-submission of accounts
Practical Example
The University Grants Commission (UGC), established under the UGC Act, prepares its annual accounts and gets them approved by its governing body. If the UGC Act prescribes that accounts must be submitted for audit by September 30, UGC must meet that deadline. If no such deadline exists in the UGC Act, the CAG can prescribe a date by which accounts must be made available. Failure to comply is reported as a delay in audit.
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 a body's accounts are not approved by its governing body on time?▼
Can the CAG audit draft or unapproved accounts?▼
What is the consequence of not making accounts available for audit?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.