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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

Answer ID : 81413

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