Autonomous Body Audits – Statutory & Compliance Audits for Government-Aided Institutions
Autonomous Bodies are government-aided institutions established by Acts of Parliament, State Legislatures, or executive orders to carry out specific public functions while enjoying operational autonomy. These bodies, which include educational institutions, research organizations, boards, councils, and statutory bodies, handle substantial public funds and are required to undergo periodic audits to ensure financial propriety and accountability.
We specialize in conducting comprehensive Autonomous Body Audits, focusing on statutory financial audits, compliance reviews, fund utilization audits, and performance assessments. We ensure that these bodies adhere to applicable statutory provisions, grant-in-aid conditions, and regulatory norms issued by governing ministries and authorities.
Our audit scope includes verification of financial statements, fund allocation and utilization tracking, compliance with applicable acts, circulars, and guidelines, assessment of internal controls, and examination of governance practices. We also assist in drafting audit replies, handling queries from oversight agencies like CAG, and implementing corrective measures for audit observations.
Beyond statutory mandates, we offer advisory on improving financial management systems, strengthening governance structures, and enhancing process efficiencies to promote transparency and accountability in public fund utilization. Our audits aim to not only ensure compliance but also to add value through actionable insights for institutional improvement.
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Frequently Asked Questions (FAQs)
Autonomous Body Audits ensure that government-funded institutions adhere to statutory financial regulations, utilize grants appropriately, and maintain transparency in operations, thus safeguarding public interests.
Audits are mandated by the parent Ministry, Comptroller & Auditor General (CAG), and other regulatory authorities as per governing Acts and Grant-in-Aid conditions.
The audit covers financial statement verification, fund utilization tracking, compliance with statutory provisions, internal control assessments, and performance evaluation of government-aided projects.
Yes, we assist Autonomous Bodies in drafting audit replies, preparing compliance reports, and coordinating with CAG and Ministry-appointed audit teams for timely rectifications.
Audit & Assurance
- Statutory Audits (Companies Act)
- Internal Audits
- Tax Audits (Income Tax Act)
- Bank Audits (Statutory & Concurrent)
- Forensic Audits
- Management/Operational Audits
- Stock Audits
- Due Diligence Reviews
- System & Process Audits
- ESG/CSR Audits
- Trust & NGO Audits
- Startup Audits
- Municipal Corporation Audits
- CAG Audits
- PSU Audits
- Social Audits (MNREGA, etc.)
- Autonomous Body Audits
- Co-operative Society Audits
- Parliament-tabled Audit Reports
- PSE Audits
CA. Dhiraj Jain
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