Sign Up

Have an account? Sign In Now

Sign In

Forgot Password?

Don't have account, Sign Up Here

Forgot Password

Lost your password? Please enter your email address. You will receive a link and will create a new password via email.

Have an account? Sign In Now

You must login to ask question.

Forgot Password?

Need An Account, Sign Up Here
Sign InSign Up

thepublicsectoraccounting

thepublicsectoraccounting Logo thepublicsectoraccounting Logo

thepublicsectoraccounting Navigation

  • RECENT QUESTIONS
  • PUBLIC SECTOR ACCOUNTING
    • TOPICS
    • QUESTIONS
  • PUBLIC SECTOR
  • ABOUT
    • CONTACT
Search
Ask A Question

Mobile menu

Close
Ask a Question
  • RECENT QUESTIONS
  • PUBLIC SECTOR ACCOUNTING
    • TOPICS
    • QUESTIONS
  • PUBLIC SECTOR
  • ABOUT
    • CONTACT
Home/ Questions/Q 374
Next
In Process
Eric Adjei
Eric Adjei
Asked: December 1, 20202020-12-01T21:39:26+00:00 2020-12-01T21:39:26+00:00In: Public Sector Accounting in India

Who is the guardian of public funds in India

Who is the guardian of public funds in India?

  • 2 2 Answers
  • 1k Views
  • 0 Followers
  • 0
Answer
Share
  • Facebook

    Related Questions

    • How much is the Consolidated Fund of India?
    • How many types of budget are there in India
    • Is the consolidated fund of India kept in State Bank of India
    • What is Consolidated Fund of India
    • treasury of government of india
    • Who is the guardian of public funds in India
    • Who controls Contingency Fund of India
    • How many types of funds are there in India
    • Who controls Consolidated Fund of India
    • Who get salary from Consolidated Fund of India

    2 Answers

    • Voted
    • Oldest
    • Recent
    1. PSAmaster
      2022-03-17T21:52:01+00:00Added an answer on March 17, 2022 at 9:52 pm

      The CAG of India, also known as the “Guardian of the Public Purse,” is tasked with inspecting and auditing all expenditures by the Central and State governments, as well as those organizations or bodies that receive significant funding from the government.

      CAG Responsibilities

      There are a lot of accounts he looks at. He looks at all spending from the Consolidated Fund of India, the Consolidated Funds of each state and UT with a legislature, and the funds of the Union Territories.

      He audits all expenditure from India’s contingency fund and public account, as well as from each state’s contingency fund and public account.

      He audits all commercial, manufacturing, profit and loss, balance sheets, and separate subsidiary accounts maintained by any department of the central or state governments.

      He audits all receipts and expenditures of bodies and authorities that receive substantial funding from central or state revenues, government corporations, other corporations, and bodies as required by applicable laws.

      • Reply
      • Share
        Share
        • Share on Facebook
        • Share on Twitter
        • Share on LinkedIn
        • Share on WhatsApp
    2. PSAmaster
      2022-03-17T21:53:35+00:00Added an answer on March 17, 2022 at 9:53 pm
      This answer was edited.

      In India, the Comptroller and Auditor General of India and the Public Accounts Committee are the guardians of public funds.

      The Indian Constitution’s Articles 266 and 267 deal with the government of India’s funds.

      The Comptroller and Auditor General of India and the Public Accounts Committee are responsible for safeguarding public funds in India.

      Articles 266 and 267 of the Indian Constitution deal with the government of India’s funds.

      • Reply
      • Share
        Share
        • Share on Facebook
        • Share on Twitter
        • Share on LinkedIn
        • Share on WhatsApp

    Leave an answer
    Cancel reply

    You must login to can add an answer.

    Forgot Password?

    Sidebar

    Ask A Question

    Recent Posts

    • ACCOUNTING FOR PUBLIC DEBT IN THE PUBLIC SECTOR May 30, 2022
    • FUND ACCOUNTING IN PUBLIC SECTOR NIGERIA March 25, 2022
    • Public Sector Zero Based Budgeting March 24, 2022
    • Public Sector Reforms in Nigeria March 24, 2022
    • Federal Public Sector Youth Internship Program March 23, 2022
    • Public Sector Reforms in Ghana PDF March 23, 2022
    • Public Sector Accounting Course Outline March 22, 2022
    • Public Sector Reforms in Ghana March 22, 2022
    • Challenges of Public Sector Reforms in Ghana March 22, 2022
    • What are Public Sector Reforms March 21, 2022

    Related Questions

      • On: June 25, 2021
      • Answers: 2

      How much is the Consolidated Fund of India?

      How much is the Consolidated Fund of India?

      • On: February 11, 2021
      • Answers: 2

      How many types of budget are there in India

      How many types of budget are there in India

      • On: December 1, 2020
      • Answer: 1

      Is the consolidated fund of India kept in State Bank

      Is the consolidated fund of India kept in State Bank of India?

      • On: December 1, 2020
      • Answers: 0

      What is Consolidated Fund of India

      What is Consolidated Fund of India?

      • On: December 1, 2020
      • Answers: 0

      treasury of government of india

      what is treasury of government of India

    Explore

    • Recent Questions
    • Most Answered
    • Most Visited
    • Public Sector Accounting
    • Public Sector Accounting in Ghana
    • Public Sector Accounting in India
    • Public Sector Accounting in Kenya
    • Public Sector Accounting in Malaysia
    • Public Sector Accounting in South Africa
    • Public Sector Accounting in the United States of America
    • Public Sector Accounting in Uganda
    • Public Sector Accounting in Nigeria

    Footer

    © 2021 The Public Sector Accounting. All Rights Reserved.

    Cleantalk Pixel

    Insert/edit link

    Enter the destination URL

    Or link to existing content

      No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.