As per the provisions of the Chapter VII of the Inspection Code, Internal Audit Division (IAD) set up in the office of Controller General of Accounts provides guidance and support to Internal Audit Wings of Civil Ministries to maintain the requisite technical Standards of accounting in the Departmentalized Accounting Offices. This Division is structured in three sections i.e. i) Centre of Excellence ii) Planning & Coordination and iii) Inspection Wing meant to upgrade the knowledge, adequate planning and execution of the programs respectively.
Risk Based Auditing approach is being encouraged by the office of the Controller General of Accounts. The "Risk Based Auditing" is an approach which focuses on the organizational response to the risks it faces in achieving its goals and objectives. The context for audits is thus provided by the Department's objectives, the associated risks and the risk management process rather than on "controls" and deviations there-from. The role of the internal auditor too shifts from an examination of compliance with controls to a review of the risk management process. A pragmatic approach requires that internal audit in conjunction with management undertakes the risk assessment exercise and accordingly draws up its audit plan. Several circulars and publications laying down the principles and guidance have been issued.
Generic Internal Audit Manual for Central Civil Ministries of Government of India
Center of Excellence
Standardized Audit Formats - Checklists - PAOs with COMPACT , PAOs without COMPACT and Drawing & Disbursing Officers OM No. G.25014/149/13/MF.CGA/IAD/454 Dated 24th January 2014
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