Question ID :
42205
Audit of Panchayats keeping accounts on Single entry system
Can Any body guide regarding Panchayat Audits having accounts on Single entry Sysyem
Posted by
Mahesh Kumar
on
Jan 06, 2022
Filed Under
AUDIT
What do you need to understand in Panchayat Audits ??
Anything Specific
Posted by
HARJEET on
Feb 11, 2022
Answer ID :
81453
It is an audit of receipt and payment account. The panchayat receives the fund from the Government and do the allowed expenditure as per the panchayat norms. You have to see that whether the expenditure has been approved by following the prescribed methodology, by the required person and of the approved amount. I have heard that they even don't know to prepare the receipt and payment account. Hope the auditors has to help and guide to them.
Posted by
CA. JHA SHANKAR KUMAR on
Mar 31, 2022