The scope of audits undertaken are broadly categorised as financial audit, compliance audit and performance audit as given below. The scope of audit includes audit of 35 Apex Audit Units, 207 Public Sector Undertakings/Autonomous Bodies , Agencies and Attached Offices (35 Apex Audit Units, 3,801 Audit Units and 25,024 Implementing Units) under these Apex Units in the Government of Kerala and other areas covered in the audit jurisdiction above cited.
Financial Audit
It focuses on determining whether an entity’s financial information is presented in accordance with the applicable financial reporting and regulatory framework. This is accomplished by obtaining sufficient and appropriate audit evidence to enable the auditor to express an opinion as to whether the financial information is free from material misstatement due to fraud or error.
Compliance Audit
It focuses on whether a particular subject matter is in compliance with the criteria.Compliance auditing is performed by assessing whether activities, financial transactions and information are, in all material aspects, in compliance with the applicable authorities which include the Constitution, Acts, Laws, rules and regulations, budgetary resolutions, policy, contracts, agreements, established codes, sanctions, supply orders, agreed terms or the general principles governing sound public sector financial management and the conduct of public officials.
Performance Audit
It focuses on whether interventions, programmes and institutions are performing in accordance with the principles of economy, efficiency and effectiveness and whether there is room for improvement. Performance is examined against suitable criteria and the causes of deviations from those criteria or other problems are analysed. The aim is to answer key audit questions and to provide recommendations for improvement.