3 fold Object of Statutory Audit

 3 fold Object of Statutory Audit

Source: 116 F1 - Para Number 16 of Chapter One of Finance Code Volume One (Revised edition of 2022)

Broadly: 

 

Accountancy Audit - accuracy of arithmetical calculations and supported vouchers

Appropriation Audit - checking the correct Classification of expenditure or not 

Administrative Audit - Audit of Sanctions as per rules and regulations

In Detail: 

Accountancy Audit: 

• To check the accuracy of arithmetical calculations and to see that all payments are supported by receipted vouchers.

 

• Akin to the audit by company auditors whose objectives are detection of fraud, detection of technical errors and the detection of errors in principle. 

 

• It assesses the adequacy of the accounting system and the system of internal check in the organization. 

Appropriation Audit: 

• Check the classification of expenditure to ensure that expenditure and receipts have been charged to the proper heads of account

• Also, the voted appropriations under these heads have not been exceeded. 

• Part of Parliamentary control over Railway Finances. 

Administrative Audit: 

• Audit of sanctions to check that expenditure has been incurred according to prescribed rules and regulations

• If not, it has been sanctioned by a competent authority.

Results of CBT LDCE conducted by NAIR on 20.11.2022

1	NR				Result	Result			Result		5
2	NCR				Result						3
3	NER	Result	Result					Result			7
4	NFR								Result		7
5	NWR								Result		2
6	WCR		Result		Result	Result					5
7	WR					Result		Result			2
8	ECR	Result	Result								6
9	ER	Result	Result		Result		Result		Result	Result	8
10	ECoR				Result						2
11	SER										5
12	SECR				Result	Result	Result				4
13	CR										2
14	SCR		Result							Result	6
15	SR	Result					Result				4
16	SWR			Result	Result				Result	Result	7
17	RCF	Result									2
18	PLW										4
19	CLW										6
20	ICF										2
21	RWF										2
22	RWP										2
23	MCF										1
24	BLW										NIL
25	RDSO										NIL
Result	Total	14	11	8	12	15	9	6	9	10	94

Key points - CBT - LDCE by NAIR 20.11.2022

• 16 Zonal Railways and 7 Production Units has covered

 

• BLW and RDSO have not been covered. 

 

• AME Post - Highest - 15 Zonal Railways / PUs 

 

• ASTE Post - Lowest - 6 Zonal Railways / PUs 

 

• Eastern Railway - Highest Departments - 8  (except ASTE) 

 

• Approximately 15k candidates appeared the LDCE Examination