What is the objective behind Audit local body?
What is the objective behind Audit local body?
Jeeba Aug. 13, 2018
The primary purpose of audit of local body is to ensure that performance of these bodies are as per the rules and regulation. The followings points are the main objectives of the audit of local bodies.
- Reporting on the true and fair view on the presentation of the financial statement of financial statements
- Reporting upon the internal control system
- Reporting on the adherence to legal and/or administrative requirements;
- Reporting upon whether value is being fully received on money spent
- Detection and prevention of error, fraud and misuse of resources.
