Regulation 96 — Audit Regulations 2020
Original Rule Text
# 96. Conduct of audit of corporations
Subject to the provisions of the respective legislations, the conduct of audit of corporations established by or under any law made by Parliament shall be governed by the provisions of these Regulations.
What This Means
The audit of corporations created by Parliament is conducted following these CAG Regulations — but only to the extent that the corporation's own enabling legislation allows. In other words, the specific Act creating the corporation takes priority, and the general Regulations fill in the gaps for procedural matters not covered by that Act.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1These Regulations govern the conduct of audit of Parliamentary corporations
- 2The corporation's own enabling legislation has overriding effect
- 3General Regulations apply as a default framework where the specific Act is silent
- 4This creates a two-layer system: specific Act first, then general Regulations
- 5Ensures consistency in audit methodology while respecting legislative intent
Practical Example
When auditing the Food Corporation of India (established under the FCI Act, 1964), the CAG audit team follows the FCI Act's provisions for audit access, reporting, and scope. For procedural matters like documentation standards, communication of findings, and audit planning — where the FCI Act is silent — the team follows these general Regulations on Audit and Accounts 2020.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
What happens if there is a conflict between the specific Act and these Regulations?▼
Does this regulation apply to state-level corporations as well?▼
Who determines which parts of the Regulations apply to a specific corporation?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.