Please enlist the objectives of audit of local body.
Please enlist the objectives of audit of local body.
Chiranjibi Feb. 14, 2018
Here, the auditor as appointed by the state government or the municipal corporations as mentioned above has certain objectives in respect to the audit of such local bodies. Here is a list of such objectives for your reference.
(a) reporting on the fairness of the content and presentation of financial statements;
(b) reporting upon the strengths and weaknesses of systems of financial control;
(c) reporting on the adherence to legal and/or administrative requirements;
(d) reporting upon whether value is being fully received on money spent; and
(e) detection and prevention of error, fraud and misuse of resources.
