Local fund audit plays an important role to check financial management: Badalkumar

Imphal, 14 March 2018 (DIPR): Local Fund Audit has been playing an important role to check financial management by the Statutory and Non- Statutory Institutions in the State. This was stated by Shri L. Badalkumar, Director of Local Fund Audit while addressing media persons today in the series of Press Conferences which are being held at DIPR Office complex at Moirangkhom in Imphal.

Shri Badalkumar said, Local Fund Audit under the provision of section 5 of the Local Fund Audit (Accounts & Audit) Act,1976, the accounts of any Local Authority, whose accounts are declared by the Provisional Government, by notification, subject to audit comes under the jurisdiction of the Directorate of Local Fund Audit. He said, Statutory Institutions like Zilla Parishads, Gram Panchayats, Urban Local Bodies & other Local Bodies viz: Aided College, PDA, MTDC etc. comes under the jurisdictions of Local Fund Audit. Apart from the Statutory Audit, the Local Fund Audit has also been entrusted with non-statutory audit of accounts of about 1543 number of State Government Offices.

Shri Badalkumar further said that besides conducting audit of the accounts of the Institutions, Local Fund Audit has also been entrusted with certain additional functions like Special Audit in connection with Vigilance Cases as requisitioned by the State Vigilance Commission, Special Audit as requisitioned by the Government, Departments and other Offices. Verification of Service Books for granting financial up-gradation under Assured Career Progression (ACP). Modified Assured Career Progression (MACP) is also conducted by the Directorate.

Mentioning the role of audit in financial management, he said, the responsibility of audit is not only to verify the accuracy and completeness of accounts maintained but also to disclose in clear misappropriation, fraud or misuse of public fund. Such disclosure will act as a deterrent to the tendency of the unscrupulous offices to commit irregularities in the sphere of financial administration. Also, the recommendations of audit will help the executive, local authorities to be prudent while spending public money, to remain cautious, to maintain integrity and uprightness in financial transactions.

While highlighting the achievements made by the department, the Director said, during the year 2017-18, the Directorate of Local Fund Audit conducted audit of accounts of 44 nos. of Government Offices and 53 nos. of Local Bodies and one special audit as requisitioned by the State vigilance Commission. Verification of Service Books of all categories of employees under State Government was also conducted. Joint Director of the Directorate, Shri Ksh. Imokanta Singh and Auditor Shri Y. Brojen also spoke on the importance of Local Fund Audit in the session.