How does the Comptroller and Auditor General of India perform the Audit of Receipts and Expenditure…
How does the Comptroller and Auditor General of India perform the Audit of Receipts and Expenditure of local bodies and authorities?
In case of bodies or authorities which are substantially financed by grants or loans from the aconsolidated funds of India or states and UTs, the CAG should audit all receipts and expenditure of that body or authority. After that, he has to report on the receipts and expenditure audited by him.
And in case, the grant or loan above is less than Rs. 25 lakhs, and if the amount of grant is more than 75% of the total expenditure of that authority, they will also be called as substantially financed by such grant or loan, and the CAG shall treat them the same.
