Vidhi Codex

Bare Act

The Tamil Nadu Local Fund Audit Act, 2014

Finance201430 sections

This legislation establishes a formal framework for auditing the financial accounts of local bodies, universities, planning authorities, and public funds across Tamil Nadu. It provides for the appointment of a Director of Local Fund Audit to oversee mandatory regular audits, investigate financial irregularities, and enforce compliance. The law applies to local officials and administrators of public funds, empowering the Director to impose fines for non-compliance, surcharge individuals responsible for financial loss or misuse, and recover missing funds. By enforcing rigorous financial scrutiny and reporting irregularities to the State Legislative Assembly, the law ensures transparency, accountability, and the proper use of public money.

Start reading →Read full ActSections
  1. 1. Short title, extent and commencement.
  2. 2. Definitions.
  3. 3. Appointment of the Director.
  4. 4. Audit of Accounts.
  5. 5. Power to audit accounts of certain authorities, bodies, institutions or fund not included in the Schedule.
  6. 6. Manner in which audit is to be conducted.
  7. 7. Liability of the Executive authority to prepare and present accounts for audit.
  8. 8. Power to require production of accounts and attendance of persons for audit.
  9. 9. Penalty for disobeying requisition under section 8.
  10. 10. Completion of audit of accounts.
  11. 11. Audit report to be sent to Executive authority and certain officers and bodies.
  12. 12. Contents of audit report.
  13. 13. Procedure to be followed on receipt of audit report.
  14. 14. Director to surcharge illegal payments and loss caused by negligence or misconduct.
  15. 15. Powers and functions of Director.
  16. 16. Delegation of powers and functions.
  17. 17. Payment of cost of audit.
  18. 18. Power to dispense with detailed audit.
  19. 19. Defalcation or loss in money or stores to be reported by the Executive authority.
  20. 20. Laying of audit report.
  21. 21. Bar of jurisdiction of civil courts.
  22. 22. Special provision for pending audit.
  23. 23. Act to over-ride other enactments.
  24. 24. Protection of action taken in good faith.
  25. 25. Director or other officers to be deemed to be public servants.
  26. 26. Power to make rules.
  27. 27. Power to remove difficulties.
  28. 28. Power to amend Schedule.
  29. 29. Savings.
  30. THE SCHEDULE. (See clauses (g) and (h) of section 2)

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