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7. Manner of audit

  1. The system of concurrent audit shall be followed in the case of the local authorities/local funds where such system of audit was in vogue at the commencement of this Act. In the case of all other local authorities/ local funds the accounts shall be audited annually in arrears during local audit:
    Provided that the Government shall, in consultation with the Director, introduce the system of concurrent audit in such of those local autho-rities/local funds as are found necessary under the provisions of any law governing them.
  2. The audit of accounts of a local authority/local fund shall be a detailed audit unless otherwise decided by the Director:
    Provided that the Director shall when the circumstances so warrant dispense with detailed audit of any account or a class of transactions and apply such limited check in relation to such accounts or class of transactions as he may deem fit.
  3. The auditors shall take up the audit of any local authority/local fund for a period shorter than one accounting year or the audit of any particular transaction or a series of transactions as they may deem fit if the circumstances so warrant.
  4. The auditors shall look into any other matter relating to the accounts of a local authority/local fund as may be required by the Government and a report thereon shall be furnished to the officer authorised to receive it.
  5. The auditors shall have authority to visit any unit/zonal/division/sub division office or any other institution under the control of a local authority/ local fund and to verify the books of accounts, stock and stores and connected records.
  6. The auditors shall have authority to audit the accounts of any special fund maintained by a local authority/local fund and kept seperate from the general funds of the institutions.
  7. In the case of Panchayats and Municipalities whose accounts are audited annually in local audit, the auditors shall at the time of such local audit check the details of collection of revenue, remittance of collection and withdrawals from accounts upto the date of commencement of audit and shall incorporate in the audit report the defects or loss of money detected in audit.
  8. The accounts of receipts and expenditure of Orphanages and poor homes are audited with a view to ascertain the extent of eligibility of the institutions for receiving grant from Government in each year and hence the audit of accounts of such institutions is confined to that extent.
  9. The accounts of Hindu Religious and Charitable Endowment Institutions in Malabar and Kasargode area whose annual income is not less than Ten thousand rupees shall be audited by the Director.