Advanced Auditing --> Audit of Public Sector Companies Assignment Help

The scope and extent of Audit of Public Enterprises is determined by the Comptroller and Auditor General. Audit of public enterprises in India is not restricted to financial and compliance audit: it extends also to efficiency, economy and effectiveness with which these operate and fulfill their objectives and goals. Another aspect of audit relates to questions of propriety and this audit is directed towards an examination of management decisions on sales, purchases, contracts, etc. to see whether these have taken in the best interest of the undertaking and confirm to accepted principles of financial propriety. One of the purposes of setting up a company/corporation form of enterprise was to give their management autonomy and flexibility within overall control and accountability, to run on competitive and commercial terms. Audit does not interface with their autonomy or inhibit their decision-making authority.

We cover following topics:

1. OBJECTIVE AND SCOPE OF PUBLIC SECTOR ENTERPRISES
2. AUDIT OF GOVERNMENT COMPANIES
2.1. Appointment of Auditors
2.2. Supplementary audit under section 619 (4) of the Companies Act, 1956
3. COMPRHENSIVE AUDIT OF PUBLIC ENTERPRISES
4. COMMITTEES ON PUBLIC UNDERTAKINGS
5. PROPRIETY AUDIT
6. PROBLEMS IN PROPRIETY AUDIT

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