GOOD            
TO          
GREAT BAR!

News Topics

Please explain some additional objectives of an a…

Please explain some additional objectives of an auditor while auditing for the local bodies.

Please explain some additional objectives of an auditor while auditing for the local bodies.

0
Chiranjibi Chapagain Feb. 14, 2018

In addition to the external audit, it is also opined by the learned author that there should be a system of internal audit in all municipal institutions. Internal audit should be provided by the institutions’ own staff. It should be performed on a continuous basis according to a well defined programme.

The external auditor should be able to rely upon the work of the internal audit as forming part of a complete system of internal financial control. Where there is no internal audit, as may happen in the case of small or poorly staffed municipalities, it becomes the responsibility of the external auditor himself to do a detailed checking.


Same as we discussed in one of my earlier articles on Government Audit - What, How and Why?, local bodies too are increasing their attention on what we can describe as 'value for money' audit. This is an additional objective of an auditor to check whether urban institutions are fulfilling their responsibilities with efficiency, economy and effectiveness (sometimes referred to as ‘the three Es’).