Section

Sampariksha AdhiniYam, Rajya L973.', (ii) for the words "Local Fund Audit", wherever they occtlr, the words "State Audit"' sha1l be substituted. 3. In the Principal Act, in Section 2,- (i) in clause (a), after the words and 'punctrration "detailed audit,", the words and punctuations "Test audit, Pre-arrd.it, Concurrrent audit, Post audit, Forensic audit, Financial audit, ComPliance audit, Risk based audit, Performance aud.it" shall be inserted; and (ii) after clause fi), the following shall added, namely:- '(k)"Test audit" means arL audit of accounts for selected months/ duration and./or financial . transaction andlor anY, schemesi ', er*€{Ertqq{, ftqio r qr 2o2o so8 (s) (1)"Pre-audit" means an audit before payment, withdrawal or adjustment out of a fund; (m)"Concurrent audit" means an audit on the spot, either simultaneously with or soon after the making of pa5rment, withdrawal or adjustment out of a fund; (n) "Post audit" means an audit after making of pa5rment, withdrawal or adjustment out of a fund, which is not concurrent audit but includes Detailed Audit and Test Audit; (o)"Forensic audit' means an examination and evaluation of a firm's or authorities or individual's financial records to derive evidence that can be used . in a court of law or legal proceeding;

s08 (6) er#gle {tqq*, ftqi6 r qT 2o2o (p)"Financial audit" means . an independent and objective evaluation of an authority's financial reports and financial reporting processes; (q) "Compliance audit" means a -n process of comprehensive review with the focus on the compliance of rules and regulations prescribed for an authority; (r) 'Risk based audit' means an audit style that focuses on the analysis and management of ttre risk of financial irregularities of an institution;

1. (s) "Performance audit" mean the assessment of the attainment of a body's prograrns, actions, operations, riranagement systems and processes with the . economy, efficiency and effectiveness of available resources; Edfiq$ntn, frriq r qr 2o2oso8 (z) (t) "Schedule" appended means the Schedules in this Adhiniyam; 4. (u) "Surcharge" means an amount for which the director makes a person liab1e for 1oss, waste, misapplicationor misappropriation of any money or other properties due to his misconduct or delinquency; . (v)"Accou.nts" means financial transactions and all related records of an authority." In the Principal Act, in Section 7,- (1) in sub-section (1), for the words "five hundred rupees", the words "twent5r five thousand - rupees" shall be substituted; and (21 in sub-section (3), before the words "*hy the sanction" aitd after the words "show cause", the words "rlrithin " inserted. thirly days" shall be Amendment of Section 7. z sor (8) effiqrq{wd, ft{i6 I qr 2o2o Amendment of 5. Section 8-A' In the Principal Act, in Section B-A, for sub-section (i ), the following sha11 be substituted, namely:- "(1) The annual report of the Director, State Audit, in relation to the audit of accounts of the bodies as ,Sferred in Schedules of sub- section

1. (1) of Section and sub- section (3) of Section 2l of the Adhiniyam shaIl be submitted to ' the State Government (Finance Department)."