Guidance Notes and Circulars issued during the period:
The Professional Practices Group (PPG) has the mandate to prescribe audit procedures & policy for the Indian Audit & Accounts Department and acts as an advisory wing for various technical issues.
During the period Guidance/Practice Notes issued to field offices dealt with subjects mentioned below:
- (A) Improving the quality of Inspection Reports(August 2017): The guidance note intends towards establishing the specific procedures that should be followed while planning, conducting and reporting the results of compliance auditing through Inspection Reports. The guidance note emphasis the need for effective planning, including use of data analytics prior to commencement of audit and envisages benchmarking and grading the Inspection Reports to evaluate their quality.
- (B) Drafting and presentation of Audit Reports(September 2017): The guidance note is supplementary to the Style Guide and aims at providing implementation guidance on drafting and presentation of audit findings and conclusions in Audit Reports apart from reiterating the key features of the Style Guide.
- (C) Financial Attest Audit of Autonomous Bodies(October 2017): The guidance is in furtherance of the Manual of Instructions for Audit of Autonomous Bodies and the objective is to provide application guidance with an operational focus so as to serve as ready reckoner for financial audit of Autonomous Bodies.
The above Guidance/Practice notes have been placed on the CAG website in Resources->Guidance Notes/Practice Notes and can be seen by accessing the link provided
www.cag.gov.in.
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