Why Government audit is important in an economy?
Why Government audit is important in an economy?
Chiranjibi Aug. 08, 2018
For sound and effective functioning of government and to ascertain that the benefit of public funds being used, reach the lowest strata of society and to every individual, audit is an indispensable tool.
It helps secure accountability of the executive to the Parliament and towards the public in general.
The legislature can exercise control over the executives and verify that the public resources have been utilized responsibly, for the purpose intended and funds raised through various sources like taxes reach government fully.
