Emerging Dimensions of Audit Accountability: A Case Study of Public Enterprise Management and Efficiency Audit in India Available to Purchase

Proper and effective control through audit is necessary in the case of public enterprises as the funds invested in them do not belong to those who manage the affairs of these enterprises. That is why it is important that their financial operations are subjected to severe scrutiny. Examines the problems of audit control of public enterprises,which would indicate an insight into the legal framework of audit accountability and the deviations emerging there from in actual practice. Government auditors do not have sufficient appreciation of the commercial nature of the public enterprises, and too detailed and continuous audit dampens the initiative of enterprising managers,forcing them to adopt a more cautious approach and restricting the scope of delegation of powers. In some cases the Comptroller and Auditor‐General is the sole auditor, and in other cases he performs the superimposed audit in addition to the audit by the professional auditor. Therefore, finds that audit control over public enterprises varies from case to case, and the CAG should interpret this power according to the need of situation, and there should be external efficiency audit for public enterprises.