SAS-Group-II Syllabus Revised 11-3-2025

 

Group-II

PC-09: Basic Financial Accounting and Analysis of financial Statements (Commercial)

(Civil Accounts, Civil Audit & Local Audit Branch, Defence Audit, Finance &  Communication Audit and Railway Audit)

Durations: 02 hours Maximum Marks: 100

Topic  No.	Description	Descriptive	MCQs
Part-I. Financial Accounting (Marks -70)		50 Marks	20 Marks
1.	Financial Accounting – Nature and Scope,  Limitations of Financial Accounting, Basic  concepts and Conventions, Generally Accepted  Accounting Principles.	MCQs
2.	Accounting Process – From recording of  transactions to preparation of Financial Statements,  Books of original entry, Journal, Ledger,  Preparation of Bank Reconciliation Statement,  Trial Balance and Rectification of Errors,	Partially (Descriptive and  MCQs)
3.	Depreciation, Provisions and Reserves.	Partially (Descriptive and  MCQs)
4.	Final Accounts of Sole Proprietorship Concerns.	Descriptive
	Final Accounts of Non-Profit Organizations – with  focus and Fund Accounting	Descriptive
5.	Accounts of Joint Stock Companies- Accounting  for Share Capital and Borrowings, preparation of  Final Accounts.	Descriptive
6.	Analysis of Financial Statements: Ratio Analysis,  Common-Size Statements, Comparative  Statements, Trend Analysis, Funds Flow  Analysis/Statements, Cash Flow  Analysis/Statements.	Descriptive
The Marks of Descriptive and MCQs for Part I of the PC which carries total 70 Marks  may be 50 and 20 respectively.
Part-II Accounting Standards (Marks-30)		20 Marks	10 Marks
(a)	Introduction to Accounting Standards issued by the  Institute of Chartered Accountants of India with  special reference to the following standards (as  amended from time to time): ∙ AS-1 : Disclosure of Accounting Policies ∙ AS-2: Valuation of Inventories ∙ AS-3: Cash Flow Statements	Partially (Descriptive and  MCQs)
	∙ AS-4: Contingencies and Events occurring  after the Balance Sheet Date ∙ AS-5: Net Profit or loss for the Period, Prior  Period Items and Changes in Accounting  Policies ∙ AS-9: Revenue Recognition ∙ AS-10: Property, Plant and Equipment ∙ AS-12: Accounting for Government Grants ∙ AS-13: Accounting of Investments ∙ AS-15: Employee Benefits ∙ AS-18: Related Party Disclosures ∙ AS-21: Consolidated Financial Statements ∙ AS-26: Intangible Assets ∙ AS-28: Impairment of Assets ∙ AS-29: Provisions, Contingent Liabilities  and Contingent Assets
(b)	Uniform Format of Accounts for Central  Autonomous Bodies	Descriptive
The Marks of Descriptive and MCQs for Part II of the PC which carries total 30 Marks  may be 20 and 10 respectively.

 

 

Group- II

PC 10: Advanced Accounting and Cost & Management Accounting (Commercial Audit)

Duration: 2 hours Maximum Marks: 100

Questions would primarily be Case study based/Practical oriented

 

 

Objectives:

 

 

To examine the candidate’s knowledge and understanding of: 

(1) Various accounting concepts, conventions and standards and apply them in preparation and  presentation of financial statements and in analysing the inter-relationship between various  elements of financial statements 

(2) Cost accounting concepts, elements of cost, costing methods, techniques and their  application for managerial decision-making 

Type of Questions: ‘Descriptive’

Detailed Syllabus: 

Section I--Advanced Accounting (60 marks) 

1. Basic concepts of Accounting: single and double entry, Accounting concepts and  conventions, Books of Original Entry, Bank Reconciliation, Journal, Ledgers, Trial Balance,  Rectification of Errors, Distinction between Capital and Revenue Expenditure  2. Bills of Exchange 

3. Depreciation Accounting 

4. Valuation of Inventories 

5. Adjusting and closing entries, Manufacturing, Trading, Profit & Loss and Profit & Loss  Appropriation Accounts, Balance Sheet 

6. Accounts of Non-profit organisations--Receipts and Payments and Income & Expenditure  Accounts and Balance Sheet 

7. Insurance Claims 

8. Accounts from Incomplete Records 

9. Royalty and Lease Accounts 

10. Company Accounts including Consolidated Financial Statements 

11. Accounts of Specialized Entities: Public Utilities Enterprises-- Accounting formats  prescribed by Electricity Act (Electricity utilities) 

12. Branch and Departmental accounts 

13. Concepts of interim reporting, Segment reporting, Corporate Social Responsibility  14. Accounting for Joint Ventures

15. Analysis of Financial Statements: Ratio Analysis, Common-Size Statements, Comparative  Statements, Trend Analysis, Funds Flow Analysis/Statements, Cash Flow Analysis/Statements

Section II—Cost & Management Accounting (40 Marks)

1. Cost Accounting Concepts

2. Prime Cost: Materials, Labour and Direct Expenses

3. Overheads--Factory Overheads, Office and Administration Overheads, Selling and  Distribution Overheads

4. Books of Accounts in Cost Accounting

5. Cost Accounting Records Rules

6. Reconciliation of Cost and Financial Accounts

7. Job, Batch and Contract Costing

8. Process Costing, Operation Costing and Operating Costing

9. Production Accounts and Cost Sheets

10. Marginal Costing, Differential Costs and Cost Volume Profit Relationship 11. Standard Costing including Variance Analysis

12. Capital Budgeting and Discounted Cash Flow Techniques

Reading Material/ Suggested

Advanced Accounting and Cost & Management Accounting:

1. Advanced Accountancy by R.L. Gupta.

2. Advanced Accounts by Shukla, Grewal and Gupta

3. Advanced Accounting by S.P. Jain and K.L. Narang 

4. Advanced Accounts by Karim

5. Basic Financial Accounting by Bhushan Kumar Goyal

6. Companies Act, 2013.

7. Accounting formats prescribed by Electricity Act 

8. Advanced Cost Accounting by Saxena and Vashisht

9. Advanced Cost Accounting by S.P. Jain and K.L. Narang

10. Principles and Practice of Cost Accounting by: N. K. Prasad

11. Cost Accounting Records Rules issued by Government of India

12. Cost Audit Standards issued by the Institute of Cost Accountants of India

 

Group- II

PC11- Advanced Government Accounts and Government Accounting  Standards

(Civil Accounts)

Duration: 2 hours Maximum Marks: 100

Questions would primarily be Case Study based

 

 

Objective:

 

 

1. To test understanding of Financial Statements / Annual accounts of the States  2. To assess the knowledge of accounting in digital environment 

3. To evaluate the understanding of the concept of Natural Resource Accounting and  Asset Account preparation

4. To assess the knowledge of Government accounting standards issued by GASAB and  Cash based International Public Sector Accounting Standards (IPSAS)

Detailed Syllabus:

A. Finance and Appropriation Accounts and introduction to CFRA:

(Weightage 20%)

(i) Time schedule and Instructions for preparation and submission of Accounts (ii) Form of Appropriation Accounts, Form of Statement showing grant-wise details  of estimates and actuals in respect of recoveries adjusted in accounts in reduction  of expenditure etc.

(iii) Form of the Statements, Appendices, etc. incorporated in Finance Accounts (iv) General Checks to be exercised while compiling/ preparing Accounts including  checks to be exercised by I.T.A. in scrutiny of Accounts 

(v) Submission of Draft Accounts to Accountant General (Audit) 

(vi) Certificate of the A.G. (A&E) & Certificate of the A.G. (Audit) including  emphasis of matter

(vii) Instructions to be followed in the printing of Accounts, Forwarding of Bond  copies to the C.A.G etc.

(viii) Mandate and details regarding compilation of CFRA, overview and visual  presentation – CFRA dashboard

B. Processes in the compilation of accounts by State Accountants General:  (Weightage -30%)

(i) Duties and powers of the Comptroller and Auditor General in relation to  compilation of accounts as provided in the Constitution of India and as laid down  in CAG’s DPC Act, 1971

(ii) Delegation of Powers

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(iii) General Instructions regarding procedure of Accounting

(iv) Debt. Deposit and Remittance Transactions, Review of Balances (v) Maintenance of Provident Fund, Pension and Gazetted Entitlement  (vi) Introduction to Budget Review and State FRBM targets and its application during  the compilation of Accounts, surrender, re-appropriation orders etc.

C. Accounting in digital environment: (Weightage -20%)

(i) Basic understanding of functioning of treasuries

a. Computerization of treasuries and Introduction to IFMS in the States  including the basic modules included (* different states are in different stages  of IFMS maturity). These include Budget Module, DDO/Treasury Module,  Human Resource Management Module, e-Receipt/Payment Module, AG  Module and any other module specific to state concerned. 

(ii) Transactions with RBI including difference in Cash Balances, flow of e-receipts  and reconciliation of Reserve Bank Deposits (RBD) and accounting of various  interest-bearing Reserve Funds

(iii) Treasury inspection in e-environment including checklist to be followed (iv) Introduction to PFMS and inputs from PFMS for the relevant Statements/  Appendices of Finance Accounts

(v) E-Kuber -Government payments/disbursements of RBI through E-Kuber and  role of Treasury, DDO, Agency Banks and Accountant General including failed  transactions

D. Natural Resource Accounts and Asset Account Preparation: (Weightage -10%)

(i) Sustainable Development Goals related to Natural Resources

(ii) United Nations -The System of Environmental-Economic Accounting 2012— Central Framework (SEEA Central Framework) – introduction, Resources to be  accounted, shortlisted minerals in India for accountal

(iii) Introduction to Panchamrit – COP26, India’s Commitment- National  declaration

(iv) Mandate for imposition of taxes on resources and preparation of Asset Accounts  (v) Asset Accounting – tables and templates

E. Government Accounting Standards and Cash based IPSAS: (Weightage -20%)

(i) Constitution of Government Accounting Standards Advisory Board (GASAB),  structure of the board and responsibilities

(ii) Indian Government Accounting Standards (IGASs) formulated by GASAB are  for cash system of accounting and become mandatory from the effective date  after their notification by Ministry of Finance, Govt. of India. IGAS 1, 2 and 3  notified by Government of India and their compliance in Finance Accounts of  the states

(iii) Cash based International Public Sector Accounting Standards (IPSAS) issued  by International Public Sector Accounting Standards Board (IPSASB)- Introduction

(iv) Introduction to accrual accounting in India – limitation of cash-based accounting  and advantages of accrual accounting.

Reading material /Suggested Reading:

1. CAG’s Manual of Standing Orders , Vol I and II (Chapters 1,5,10,11,12,13 and 19 of  Vol I and the entire Vol II)

2. Civil Account Manual issued by Ministry of Finance (Chapter 5 and 8) 3. Accounts code for Accountants Generals (All topics except process of compilation,  preparation of MCA and forms of Govt. Accounts) 

4. Introduction to Indian Government Accounts and Audit by P. Muthuswamy (General  reading)

5. Government Accounting – Principles and Practices by R. Ramanathan (General  reading)

6. Accounting Rules for Treasuries, 1992

7. Government Accounting Rules, 1990 (Chapters 4,5,6 and 7)

8. Finance Accounts of State Governments available on www.cag.gov.in (for formats of  Statements/Appendices)

9. Toolkit of PFMS issued by CGA and IFMS issued by various States 10. Documents and guidelines related to e-Kuber issued by RBI

11. Guidelines on Treasury Inspections in e-Environment (Post IFMS) issued by GA wing  vide No. 1112/GA-143/2020 date 22/10/2020

12. Hitting the targets_population and the SDGs (Goals 6,7,12,13,14 and 15) 13. Paper on United Nations -The System of Environmental-Economic Accounting 2012— Central Framework (SEEA Central Framework) (Chapters 1 to 5)

14. Panchamrit COP26 _National declaration by Prime Minister

15. Concept paper on Natural Resource Accounting in India by GASAB (Chapters 9 and  10)

16. Templates on Asset Accounting on Mineral &Non-renewable energy resources in  States (Chapter 6 and 7)

17. Indian Government Accounting Standards (IGASs) issued by Government Accounting  Standards Advisory Board (GASAB) (IGAS 1, 2 and 3 available on www.gasab.in

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Group- II

PC-12: Performance Audit and Compliance Audit 

(All branches except Civil Accounts)

Duration: 2 hours Maximum Marks: 100

Questions would primarily be Case Study based

 

 

Objective:

 

 

The objective of the paper is to assess the extent to which the candidate has gained  knowledge and acquired skills to conceptualise, design, conduct, and report the performance  and compliance audits

Guidelines, Manuals, and other material

● Performance Audit Guidelines of C&AG

● Compliance Audit Guidelines of C&AG

● IDI’s Performance Audit ISSAI Implementation Handbook (latest edition, including  its appendices – V1 presently)

● IDI’s Compliance Audit ISSAI Implementation Handbook latest edition (V1 presently)

● International Standards of Supreme Audit Institutions (ISSAI) 300, 400, 3000 and  ISSAI 4000

● Audit Quality Management Framework Guidelines issued by C&AG ● CAG’s Manual of Standing Orders (Audit)

● Budget documents

Detailed Syllabus (Indicative from the above manuals and guidelines) Performance Audit (Part I): 40-60 Marks

● Key principles,

● Strategic Planning Process

● Topic Selection 

● Pilot Study, 

● Audit Objectives, Approaches, Scope, criteria, and methodology and engaging  stakeholders 

● Audit risks and assurance

● Audit Design Matrix, Audit Findings Matrix, 

● Conducting the Audit, including Evidence gathering and analysis 

● Determining Cause and Effect 

● Findings, Conclusion and Recommendations

● Reporting and communication style

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● Follow-up on audit results 

● Audit Outputs, Outcomes, and Impact

● Output- Outcome Framework and Outcome Budget

● Input - Output model and the three Economy, Efficiency, and Effectiveness ● Outputs and outcomes for programs/ schemes and their indicators

● Segregation of functions and monitoring: To check if the different functions– purchasing, providing, regulating, financing, etc. – have been segregated by the  government or not

● Data analysis techniques and visualisation:

○ Regression analysis

○ Pareto analysis

○ Identification of critical factors and expenditure commensurate to their  criticality

○ Causal analysis 

∙ Alignment of policies and processes: Evaluate if the ecosystem – process, guidelines,  policies, programs – is aligned to the targets or not

Pattern/ Suggested type of Questions: Of the total, 25% -40 % (of 40-60 marks) marks can  test theoretical knowledge through MCQ. The examiner can include topical questions.

The remaining portion can be three- five case studies (PA reports) followed by 10-15  related questions per case study to test the applied knowledge and skills. The PA reports may  be chosen from diverse areas – social sector (health, education), infrastructure (transport,  power), environment and climate change, financial, industry and corporate affairs. A case  study can be on outcome-based audits. We could try to move towards impact evaluation using  data analysis also. The examinee can also be made to suggest the scope of improvement in a  case study.

Compliance Audit (Part II): 40-60 Marks

● The SAI’s organisational requirements for conducting a compliance audit ● Annual Audit Plan for coverage of Compliance Audit

● Planning compliance audits

● Identification of core areas, Citizen centric issues, and impact of non-compliance (So what?) ● Performing Audit Procedures and gathering and evaluating evidence  ● Reporting and follow-up compliance audits 

● Documentation of Compliance Audits 

● Other topics include Audit Risk, Audit approach, Audit procedures, Quality Control,  drafting audit reports, and constructive and feasible recommendations.

Pattern/ Suggested type of Questions: Of the total, 25% -40 % (of 40-60 marks) marks can  test theoretical knowledge through MCQ. Topical questions, especially those highlighted in  the media, can be included.

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The remaining portion can be two- four case studies (Draft paragraphs) followed by  8-12 related questions per DP to test the applied knowledge and skills of the examinee. The  DPs can be chosen from diverse areas and include issues like fraud detection and corruption.  The examinee can also be made to suggest improvements in the Draft Paragraphs.

 

Group- II

PC 13: GOVERNMENT BUDGETING AND FLOW OF RESOURCES (Civil Accounts)

Duration: 2 hours Maximum Marks: 100 

Questions would primarily be Case Study based

 

 

Objectives:

 

 

∙ To test the knowledge of government budgeting, budgeting process, budget documents  and their review

∙ To assess the understanding of different sources of revenue for Governments,  allocation, and flow of resources/funds between Union and/or state governments.

Detailed Syllabus

I. Government Budgeting (Weightage – 35 percent)

a. Government budget – meaning, objectives and components

b. Constitutional provisions related to budgeting and appropriation of funds c. Process involved in the preparation of Government budget

d. Budget documents presented in Parliament/State Legislature

e. Budget Review* including

i. Pre-Budget scrutiny, previous year' comments by Accountant General office  on Budget including Responses to the observations/important concerns noticed  during last Budget Review, 

ii. Post Budget scrutiny, Correctness of Classification, Scrutiny of  Supplementary Budget.

iii. Review of Outside Budget Pronouncements by State Government

iv. Review of Budget Speech

(*Budget Review of State budget to be done jointly by Accountant General Audit and  Accounts Offices)

II. Fiscal Responsibility and Budget Management. (FRBM) Act, 2003 (Weightage –  10 percent)

a. Objective 

b. Provisions of FRBM Act

c. Fiscal policy statements under FRBM Act

d. FRBM Act exemptions/escape clause

III. Government Deficit (Weightage – 20 percent) a. Balanced/Surplus/Deficit Budgeting

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b. Measures of Government Deficit i.e., revenue deficit, fiscal deficit, primary deficit  etc. and their implications on fiscal health of governments

c. Deficit management through internal & external debt

d. Off budget borrowing

IV. Flow of Resources/funds (Weightage – 35 percent) a. Sources of revenue for Union and State- Union/State/Concurrent List b. Financial Relation Between Union and States - Constitutional Provisions c. Different Grant-in-aids given by the Union Government to State Governments (ex

Statutory, Discretionary etc.) and/or Panchayati Raj Institutions (ex- tied grants  etc.) and related constitutional provisions 

d. Distribution of Tax/ Non-tax Revenues

e. Article 280- Finance commission 

f. Key recommendations of the latest Finance commission related to devolution of  funds/distribution of financial resources to states

Reading material /Suggested Reading:

1. Constitutional provisions related to budgeting and appropriation of funds- (Articles  112- 117, 202-207)

2. Government Financial Rules 2017 – Chapter 3 Budget Formulation and  Implementation, Chapter 9- Grants-in-aid and Loans, Chapter-10 Budgeting and  accounting of Externally Aided Projects and Chapter -11 Government Guarantees.

3. Budget Documents including Budget at a glance, key budget documents such as Annual  Financial Statements, Demand for grants, Finance bill, Appropriation bill/Act etc.  4. Government Budget Principles and Practice - Dr. C.N. Sudarsanana, Foreword by – Shri T. N. Chaturvedi 

5. Fiscal Responsibility and Budget Management Act,2003

6. Constitution provisions related to financial allocation between centre and state (Article  268-281, 282-291)

7. Latest Finance Commission Report

8. Study of topics related to flow of resources from Union and State Governments i.e.,  Grants-in-Aid, Compensation of GST, Centrally Sponsored Schemes, Central  Assistance, EAP, from the latest report of Finance Commission. Guidelines/ orders  issued by Union Government on constitution of SNA. 

9. MSO (A&E), Vol. 1, Ch.4 

10. Checklist issued by CAG HQs dated 6 April 2022 regarding Budget Review

 

Group- II

PC-14: Financial Audit (All branches except Civil Accounts) Duration: 2 hours Maximum Marks: 100

Questions would primarily be Case Study based

 

 

Objective:

 

 

To evaluate the concept, understanding, skills, procedures and methodology for  auditing Financial Statements of the Union and state Government, their autonomous bodies  and for certification of externally aided projects

To test the knowledge of Government Budgeting and understanding of different sources  of revenue for Government, allocation and flow of resources/funds between union and/or state  Governments

Detailed Syllabus

I. General understanding of Financial Audit: 40 Marks

a. Accounting process and classification of Accounts

b. Materiality and Audit Objectives

c. Sensitivity and confidence limit

d. Audit risk and assurance and tests of control

e. Analytical review procedures and substantive tests

f. Forming an audit opinion

g. Format of Financial Statements

I. Financial Audit of Union and State Government: 40 Marks

a) Various stages and details in audit of Appropriation and Finance Accounts b) Orders about treatment of comments on Excess/Savings in the grants c) Scrutiny of SCTs in Finance Accounts

d) Analysis of statements in Finance Accounts

e) Important recurring issues in the audit of Accounts

f) Government budget – meaning, objectives and components

g) Constitutional provisions related to budgeting and appropriation of funds h) Process involved in the preparation of Government budget

i) Budget documents presented in Parliament/State Legislature

j) Sources of revenue for Union and State- Union/State/Concurrent List k) Financial Relation Between Union and States - Constitutional Provisions l) Different Grant-in-aids given by the Union Government to State Governments (ex

Statutory, Discretionary etc.) and/or Panchayati Raj Institutions (ex- tied grants etc.)  and related constitutional provisions

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m) Distribution of Tax/ Non-tax Revenues

n) Article 280- Finance commission

o) Key recommendations of the latest Finance Commission related to devolution of  funds/distribution of financial resources to states

p) Provisions of FRBM Act and Rules

II. Audit of Financial Statements of Autonomous Bodies: 10 Marks

a. Format of Accounts

b. Relevant provisions of DPC Act

c. Planning, Execution and Reporting of Audit

d. Relevant provisions of General Financial Rules

III. Certification of Externally Aided Projects: 10 Marks

a. Objectives of Externally Aided Projects

b. Format of Accounts

c. Audit procedure and time schedule for certification

d. General terms and conditions of the agreement for the implementation of projects

Suggested reading material/ references:

i. CAG (Duties, Powers and Conditions of Service) Act 1971

ii. General Financial Rules, 2017 

iii. Central Government Accounts (Receipt and Payment Rules) 1983.  iv. Delegation of Financial Powers Rules

v. Government Accounting Rules, 1990 

vi. Civil Accounts Manual 

vii. Financial Attest Audit Manual

viii. Regulations on Audit and Accounts issued by C&AG

ix. Manual for Audit of Autonomous Bodies issued by C&AG

x. Guidelines issued by C&AG on Audit of Externally Aided Projects xi. Manual of Standing Orders (MSO) Audit

xii. Practice Note for Audit of Union government Finance Accounts & Appropriation  Accounts (Civil) issued by O/o. DGA(F&C)

xiii. List of Major and Minor Heads (LMMH)

xiv. Constitutional provisions related to budgeting and appropriation of funds- (Articles  112- 117, 202-207)

xv. Budget Documents including Budget at a glance, key budget documents such as  Annual Financial Statements, Demand for grants, Finance bill, Appropriation  bill/Act etc. 

xvi. Government Budget Principles and Practice - Dr. C.N. Sudarsanana, Foreword by  – Shri T. N. Chaturvedi 

xvii. Fiscal Responsibility and Budget Management Act,2003 and Rules amended from  time to time

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xviii. Constitution provisions related to financial allocation between centre and state  (Article 268-281, 282-291)

xix. Latest Finance Commission Report

xx. Study of topics related to flow of resources from Union and State Governments  i.e., Grants-in-Aid, Compensation of GST, Centrally Sponsored Schemes, Central  Assistance, EAP, from the latest report of Finance Commission. Guidelines/ orders  issued by Union Government on constitution of SNA. 

xxi. MSO (A&E), Vol. 1, Ch.4 

xxii. Checklist issued by CAG HQs dated 6 April 2022 regarding Budget Review

 

Group- II

PC-15: Entitlement Functions and Treasury Inspection

(Civil Accounts)

Duration: 2 hours Maximum Marks: 100 

Questions would primarily be Case Study based

 

 

Objective:

 

 

To test the candidate’s understanding of Entitlements of Government Servants and  various function of Treasury, their nature and purpose 

Section I: 

General Provident Fund, Pension and Gazetted Government Service Entitlements   

Syllabus: Weightage: 45%

1. Chapter-12: Maintenance of Service, Provident and other Funds (except paragraph  12.2 to paragraph 12.9) (MSO A&E-Vol-1)

2. Chapter -13: Gazetted Government Service Entitlements (MSO A&E-Vol-1) 3. Chapter -14: Pension (MSO A&E-Vol-1)

4. Chapter -15: Pre-check for payment of Pension) (MSO A&E-Vol-1)

Section II: 

Treasury Inspection Weightage: 55% Syllabus:

1. General understanding of various budgeting, expenditure, sanction, receipts, banks  modules/packages of IFMS and their interdependencies.

2. Process flow of IFMS used by treasuries and content and purpose of each data entry  screen and report.

3. Difference between Treasury Inspection and Audit of Integrated Financial Management  System (IFMS)

4. Understanding of data extraction and analytics tool: IDEA 

5. Purpose and nature of various registers and records maintained at the Treasury. 6. Pension disbursement function of the Treasury

7. Internal Controls relevant to treasuries 

8. CAG’s Compliance Auditing Guidelines

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Reference Books:  

1. General Provident Fund Rules (Central Services) (Swamy’s Compilation) 2. Central Civil Services (Pension) Rules, 1972

3. Manual of Standing Orders (Accounts & Entitlements)-Vol-1

4. Accounting Rules for Treasuries (First Edition 1992)

5. Contemporary Auditing by Kamal Gupta (Chapter: 3 Evaluation of Internal controls) 6. General Provident Fund Rules 

7. Central Civil Services Pension Rules

8. IFMS user manual

9. Instructions/guidelines/manual issued by CAG on Treasury Inspection

 

Group- II

PC 16 Revenue Audit; Audit of Local Bodies; Public Works Audit (Civil Audit & Local Audit Branch)

Duration: 2 Hours Maximum Marks: 100

Questions would primarily be Case Study based

 

 

Objectives:

 

 

This being an omnibus Paper of three areas of audit each of which is extensive in itself,  the attempt here will be to assess the examinee’s understanding of the broad aspects of each of  these streams, as well as a few core areas pertaining to each.

To that end, the specific objectives of this Paper will be as under:

1. Revenue Audit (35 marks out of 100): 

Testing the understanding of basic concepts of Income Tax and GST,

2. Local Bodies Audit (35 marks out of 100):

Testing the understanding of the general concepts of Local Bodies Audit, and the  legal framework supporting it,

3. Public Works Audit (30 marks out of 100):

Testing the understanding of concepts of Contracts Audit, audit of Stores and  Stock and aspects of Project Management. 

1. Revenue Audit Syllabus:

I. Income Tax

(i) Assessment year, Previous year, Person, Assessee, Charge of income-tax, Income,  Gross Total Income, Total income and tax liability, Agricultural Income,  Difference between exemption and deduction, Definition of Manufacture, Capital  Asset, Company, Fair market value, Capital receipts vs Revenue receipts, Capital  expenditure vs Revenue Expenditure, Method of accounting, Residential status of  Individual & Company, Relation between residential status and incidence of tax,  Receipt & Accrual of income, Income deemed to accrue or arise in India;

(ii) Income Computation and Disclosure Standards (ICDS):

ICDS I Accounting Policies

ICDS II Valuation of Inventories

ICDS III Construction contracts

ICDS IV Revenue Recognition

ICDS V Tangible Fixed Assets

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ICDS VI Effects of Changes in Foreign Exchange Rates

ICDS VII Government Grants

ICDS VIII Securities

ICDS IX Borrowing Costs

ICDS X Provisions, Contingent Liabilities and Contingent Assets

(iii)Profits and gains of business or profession – Principles and Computation: Chargeability, General principles governing assessment of business  income, Method of accounting, Scheme of deductions and allowances,  Depreciation;

(iv)Capital gains - Principles and Computation: Meaning of capital asset, Transfer of  capital asset, Computation of capital gain, Full value of consideration, Expenditure  on transfer, Cost of acquisition, Cost of improvement, indexed cost of acquisition  and indexed cost of improvement, Problems on computation of Long Term Capital  Gains (LTCG) Tax

II. GST:

a. Constitutional Aspects, GST Council, Administration of GST, Assessment and Audit, Dual GST Model, GST (Compensation to States) Act, 2017 GST Network,

b. Levy and collection of CGST & IGST – Application of CGST/IGST law, concept of supply including composite and mixed supplies, inter-State supply, intra-State supply, supplies in territorial waters, charge of tax, exemption from tax, composition levy, Distribution of IGST,

c. Place of supply, time and value of supply,

d. Input Tax Credit, Computation of GST Liability, Procedures of GST – registration, tax invoice, credit and debit notes, electronic way bill, accounts and records, returns, payment of tax including reverse charge, refund, job work, Provisions relating to e-commerce, GST Forms (GST REG-01, GSTR 1, GSTR 4, GSTR 10, GST PMT 01, GST-RFD-01, GST ITC-01).

❖ The following books/reference material are prescribed:

(i) Taxmann’s Direct Tax Manual (Vol. I – Acts), 

(ii) Finance Act of the Year (may be read as Finance Act of the Previous year), (iii) Income Tax Act, 1961

(iv) Income Tax Rules, 1962

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(v) Income Computation and Disclosure Standards issued by the Ministry of  Finance

(vi) Taxmann’s GST Manual with GST Law Guide

(vii) Centax GST Law Times (Latest issues)

(viii) Handbook of GST in India: Concept and Procedures by Rakesh Garg 2. Local Bodies Audit Syllabus:

Provisions of auditing Standards, Guidelines and Manuals, etc. related to Local  Bodies Audit: 

(i) 73^rd and 74^th Amendments to the Constitution and details thereof, (ii) Latest recommendations of Central Finance Commission so far as these  relate to Local Bodies only,

(iii) Auditing Standards for Panchayati Raj Institutions and Urban Local Bodies  issued by the C&AG of India,

(iv) Manual of Instruction for Audit of PRIs issued by the C&AG of India in December 2002.

❖ The books/reference material prescribed will be the same as above. 3. Public Works Audit Syllabus:

∙ Basics of Contract Management including General Conditions of Contract, ∙ Audit of Contracts,

∙ Audit of Stores and Stock,

∙ Aspects of Project Management (Environment Impact Analysis, Detailed  Project Report, Land acquisition, coordination with other organisations)

❖ The following books/reference material are prescribed:

Comptroller & Auditor Generals Manual of Standing Orders (Audit),  Section 2, Chapter 4

Section 3, Chapter 7

Regulation on Audit & Accounts, 2007, as relevant

Relevant Chapters of GFR 2017

Project Management: Pradeep Pai (Pearson)

 

 

 

 

Group- II

Revised PC-17: Defence Audit

Duration: 2 hours Maximum Marks: 100

Questions would primarily be Case Study based

 

 

Objectives:

 

 

a. To test understanding of the Defence organization

b. To test understanding of rules & procedures relating to functioning of the defence  services & their internal controls

c. To test understanding of audit process of defence services

Detailed Syllabus:

I. Understanding of Defence Organization 

II. Rules & procedures relating to functioning of the Defence Services and their internal  controls

III. Audit process of Defence Services

Section I: Understanding of Defence Organization (10 percent)

1. Organization of Ministry of Defence 

2. Inter Service Organizations of Ministry of Defence

3. Organization of Indian Army

4. Organization of Indian Navy

5. Organization of Indian Air Force

6. Organization of BRO

7. Organization of DRDO

8. Organization of Ordnance Factories (now reorganized as DPSUs)

9. Organization of Defence Accounts Department

Reading material / Suggested Reading:

(i) Manual of Audit Department Defence Services Vol. 1.-Part C (9^th Edition - 2005) - Chapter 25, Section-1 of Chapter 42 (Para 829-835), Chapter 44 (Para 867 to 877)  (ii) Chapter 5,6,22 & 23 of Manual of The IA &AD, Defence Audit Wing, Air Force  and Navy, Vol-II, Second Edition (2010).

(iii) Defence Accounts Department O.M. PT. I- Chapter I (2014 Edition) (iv) Annual Report 2018-19 -The annual report of Ministry of Defence may be referred Where in the Ministry mentions briefly the functions of the Inter-Service Organisations. (The candidates can refer to the latest Annual Reports on the website) (v) For MoD, Army, Navy and Air Force: 

www.mod.gov.in

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https://indianarmy.nic.in

https://indiannavy.nic.in

https://indianairforce.nic.in

(vi) https:// www.drdo.gov.in

(vii) https://ddpdoo.gov.in/

(viii) https://www.ddpmod.gov.in/

Section II: Rules & procedures relating to functioning of the Defence Services & their  internal controls (60 percent)

Provisions relating to the following:

1. Defence Service regulations of the Army, Air Force and the Navy

2. Provisions relating to management of cantonments and administration of their  land

3. Regulations guiding the MES and provisions governing contracts in MES 4. Provisions relating to works and operational works in defence services 5. Provisions relating to capital and revenue procurements in defence services 6. Provisions relating to management of ordnance factories

7. IFA system in Army, Air Force and the Navy

8. Processes and Procedures in DRDO

9. Processes and Procedures in BRO

Reading material /Suggested Reading:

(i) Defence Service Regulations: Regulations for the Army Part I & II (Rev. Edn.  1987)

(ii) Defence Service Regulations: Regulations for the Air Force (Reprinted Edn. 2000)  (iii) Regulations for Navy Part II: Discipline and Miscellaneous Provisions Regulations (iv) 1965. 

(v) Regulations for Navy Part III: Naval Ceremonial, Conditions of Service and   Miscellaneous Regulations, 1963.

(vi) Defence Procurement Manual 2009

(vii) Defence Acquisition Procedure 2020

(viii) Regulations for MES 1968 Edn. (Reprint 1982)

(ix) Defence Works Procedure 2020

(x) MES Manual on Contracts 2020

(xi) IFA (Army) Manual 2007

(xii) IFA (Navy) Manual 2008

(xiii) IFA (Air Force) Manual 2008

(xiv) Cantonment Land Administration Rules, 2021

(xv) The Cantonments Act, 2006

(xvi) Internal Audit Manual (Chief Internal Auditor (OFs) Kolkata Issued under the   Authority of Controller General of Defence Accounts Delhi (in 2014)

(xvii) Border Roads Procurement Procedure.

(xviii) Directives for Project Formulation and Management in DRDO ( DPFM-2021) (xix) Guidelines on Transfer of Technology

(xx) Procedures on Technology Development Fund

(xxi) DRDO Store Management Guidelines

(xxii) DRDO Procurement Manual 2020

(xxiii) R &D Construction Establishment Works Procedure.

 Section III: Audit process of Defence Services (30 percent) Provisions relating to the following:

1. Organisation and procedures relating to audit of defence services by IA&AD 2. Organisation of various sections of PCDA/CDA and general instructions relating  to Central Test Audit

3. Audit process to be applied during local test audit of various defence services and  establishments.

4. Provisions relating to internal audit in defence services

Reading material /Suggested Reading:

(i) Manual of the Audit Department Defence Services Vol-I Part- A, B & C (9^th Edition  – 2005)

(ii) Manual of the IA&AD, Defence Audit Wing, Air Force And Navy, Vol-II   Second Edition (2010) 

(iii) Manual of the Audit Department Defence Services Vol-III (Ordnance & Ordnance  Equipment Factories) Fifth Edn. (2001) 

(iv) Defence Audit Code (2014 Edn.)

 

Group- II

PC-18: Finance and Communication Audit

Duration: 2 Hours Maximum Marks: 100

Questions would primarily be Case Study based

 

 

Objective:

 

 

To test knowledge and understanding of (a) systems and procedures followed by the  Auditee units under the jurisdiction of O/o DGA(F&C), Delhi and (b) audit procedures to  examine revenue recognition and expenditure during compliance and performance audit

Detailed Syllabus:

I. Organisational Setup and functions of Auditee Units 25 Marks

a. Organization and Functions of F&C Audit wing under the C&AG of India b. Organizations and Functions of Auditee Units under jurisdiction

c. General Financial Rules

d. Service Rules of respective Ministry / Department / PSU/AB

e. Delegations of financial powers of respective Ministry / Department / PSU/AB f. Application of Rules/Acts/Provisions of Audit at all stages

II. Understanding the rules & procedures relating to functioning of Auditee Units  and their internal controls 25 Marks

a. Determine Auditable entities, audit units and implementing units 

b. Preparation of plan for compliance audits, materiality, risk assessment, selection of  Units and reporting

c. Revenue recognition as well as Expenditure as per the codal provisions d. Auditing standards issued by C&AG

e. Provisions of Manuals / Acts /Guidelines of Audit issued by C&AG from time to time III. Understanding of Finance and accounts Provisions 25 Marks

a. Provisions of Government Accounting Rules, 1990 

b. Requirement and receipt of funds including Budget formulation of respective units c. General system of Financial Management and implementation

d. Accounting Standards issued by Institute of Charted Accountants of India and IND AS  notified by the Ministry of Corporate Affairs 

e. Accounting policy, Accounting Instructions, Formats of Accounting Records issued by  the Ministries / Departments concerned, from time to time

IV. Understanding the Audit analysis and reporting 25 Marks

a. Provisions of Compliance Audit Guidelines of C&AG 

b. Provisions of Performance Audit Guidelines of C&AG 

c. providing analytical insights 

d. providing an independent and authoritative view or conclusion based on audit evidence e. Case study of relevant topics

f. providing recommendations based on an analysis of audit findings

Suggested reading material/references:

1. C&AG’s Manual of Standing Orders (Audit) 

2. Compliance Audit Guidelines issued by C&AG of India

3. Auditing Standards issued by C&AG of India

4. Performance Auditing Guidelines issued by C&AG of India

5. Internal Control Evaluation Manual of C&AG of India

6. Financial Attest Audit Manual of C&AG of India 

7. General Financial Rules 2017

8. P&T Audit Manual (Concurrent Audit) 

9. Post Office Savings Bank Manual Vol. I 

10. Post Office Savings Bank Manual Vol. II 

11. Core Banking Solution (CBS) Manual 

12. Civil Accounts Manual

13. P&T FHB Vol. – I(Chapter-VII)

14. P&T Manual Vol – II (Chapter-XII-Budget Estimate and Control)

15. P&T FHB Vol. – III

16. P&T Manual Vol – X

17. Telecom Accounts and Finance Manual

18. TRAI Act, 1997

19. GST Rules issued from time to time

20. Arbitration & Conciliation Act 1996

21. Relevant Rules of Companies Act 2013

22. Regulations / Policies / Orders / Instructions /Guidelines issued by Ministries /  Departments under Audit jurisdiction from time to time

23. Standing Order on Role of Audit in Relation to cases of Fraud & Corruption issued by  C&AG of India.

24. Central Vigilance Commission’s Orders issued on procurement made by Government  Organizations

25. List of Major and Minor Heads of Accounts of Union and States (LMMHA)  26. Compliance Audit guidelines issued by C&AG

27. Performance Audit Guidelines issued by C&AG

 

Group- II

PC 19: Railway Audit

Duration: 2 hour Maximum Marks: 100

Questions would primarily be Case Study based

 

 

	Sl. No. Section and Nomenclature of topic	Percentage of allocation of score
1.	Section I – Railway Traffic Revenue	60
2.	Section II - Railway Workshops and Stores Audit	40
	Total Score	100

 

 

Objectives of this paper are:

1) To test knowledge and understanding of the audit procedures involved in examining  revenue recognition and accountal of Railway Traffic Revenue.

2) To assess the knowledge and understanding of the rules and procedures governing the  functioning of various activities in Railway workshops and production units. 3) To assess the knowledge and understanding of the candidate relating to procedures and  concepts applicable in the working of Railway’s Stores department in performing  functions of tendering, purchasing, stocking and accounting of Stores items for railway  use and disposal of scrap items.

4) To test the understanding of the candidate’s knowledge regarding the internal control,  accounting and finance functions performed by the Accounts Department in Railways  vis-à-vis Revenue receipts, Railway workshops and Railway Stores functions.

5) To evaluate the understanding of audit processes applicable to the audit of Railway  operations in the fields of traffic revenue, workshops, production units and procurement  and disposal of stores.

Section I: Railway Traffic Revenue (60 percent) 1. Provision of following Acts/Rules/Codes/Manuals/Handbooks/orders:

A. Indian Railway Code for Traffic Department (Commercial) :

1. Organisation and functions of the Commercial Department

(Chapter I)

2. Rates and fares (Chapter II)

3. Claims for compensation and for refund of overcharges (Chapter III)

4. Claims for compensation other than those relating to loss etc. of goods and powers of GeneralManager's for making ex-gratia payment to persons involved in accidents to  trains (Chapter IV)

5. Railway User's Consultative Council and Committees (Chapter V)

6. Amenities for Railway Users' (Chapter VI)

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7. Catering and Vending Services (Chapter VII)

8. Inter modal transport (Chapter VIII)

10. Ticketless Travel its check and prevention 

(Chapter IX)10.Station outstanding (Chapter X)

11. Wharfage and demurrage (Chapter XI)

12. Mode of payment of railway Freight and other Railway dues (Chapter XII) 13. Registration of indents allotment and supply of wagons (Chapter XIV) 14. Postal Traffic (Chapter XVI)

15. City booking offices and out agencies (Chapter XVII)

16. Sidings (Chapter XVIII)

17. Miscellaneous (Chapter XIX)

B. Indian Railway Commercial Manual Vol I:

1. Introductory (Chapter I)

2. Passenger Tickets (Chapter II)

3. Admission to Platforms and Carriage of Passengers (Chapter III)

4. Warrants, Concession Orders, High Official Requisitions and Free Passes, etc. (Chapter IV) 5. Check and Collection of Passenger Tickets(Chapter V)

6. Reservation of berths, seats and compartments and booking of Special Trains(Chapter VI) 7. Initial Accounts and returns for Passenger Traffic(Chapter VII)

8. Booking and delivery of passengers' luggage(Chapter VIII)

9. Booking, Conveyance and Delivery of Parcels Traffic(Chapter IX)10.Booking of Animals  and Birds(Chapter X)

11. Booking of Certain Valuable Articles(Chapter XI)

12. Miscellaneous Traffic(Chapter XII)

13. Initial Coaching Books and Returns(Chapter XIII)

C. Indian Railway Commercial Manual Vol II:

1. Booking of Goods Traffic (Chapter XIV)

2. Loading of Goods (Chapter XV)

3. Unloading and re-weighment of Inward Goods (Chapter XVII)

4. Delivery, Rebooting and Diversion of Goods (Chapter XVIII)

5. Railway Materials and Stores (Chapter XIX)

6. Initial Books and Returns in connection with Goods Traffic (Chapter XX) 7. Claims for Compensation and for Refunds of Overcharges (Chapter XXI) 8. Loss of Property and Unclaimed (Chapter XXII)

9. Handling of Goods, Parcels, etc. (Chapter XXIII)

10. Traffic Receipts and Remittances (Chapter XXIV)

11. Sidings (Chapter XXV)

12. Out-Agencies, City Booking Offices and other Ancillary services (Chapter XXVI) 13. Station Outstanding (Chapter XXVII)

14. Catering and Vending Services, Contractual Gesturing and Vending, Departmental  Catering andVending (Chapter XXVIII)

15. Commercial and Accounts Inspections (Chapter XXIX)

16. Miscellaneous (Chapter XXX)

17. Responsibilities of Railway administration as carriers of goods (Chapter XXXI) D. IRCA Tariffs – Coaching, Goods, Military, Red Tariff - all Parts and Volumes E. IRCA Conference Rules

F. Handbook on Traffic Costing – Railway Board’s publication

G. Instructions issued by Railway Board in 1994 for standard method to calculateprofitability of a Passenger Train.

H. Indian Railway Act, 1989

I. Railway Audit Manual – Sixth Edition (June 2022) :

i) Chapter 8 – Audit of Commercial Department.

ii) Chapter 3 – 9.5 – Audit of Traffic Accounts.

Note: In case of tariffs, the publications in force in the previous financial year will be the reference books in respect of ‘Railway Traffic Revenue’.

Reading material /Suggested Reading:

1. Indian Railway Code for Traffic Department (Commercial)

2. Indian Railway Commercial Manual Vol. I and II

3. IRCA Tariffs – Coaching, Goods, Military, Red Tariff – all parts and volumes 4. IRCA Conference Rules

5. Handbook on Traffic Costing – Railway Board’s publication

6. Instructions issued by Railway Board in 1994 for standard method to calculate profitability of a Passenger Train.

7. Indian Railways Act, 1989

8. Railway Audit Manual - Sixth Edition – June 2022

Section II - Railway Workshops and Stores Audit (40 percent) Provisions of following Manuals/Codes/Standards/Guidelines: 

1. C&AG MSO (Audit), 2002 - Section III - Chapters 19, 20, 21, 22.

2.Indian Railway Code for Mechanical Department - All Chapters (except Chapter X and XI  onFoundry Accounts Saw Mill Accounts).

3. Indian Railway Code for Stores Department (Vol. I and Vol. II) – All Chapters

1. Classification of Revenue Expenditure (Appendix-I)

2. Classification of Capital and Other Works Expenditure (Appendix-II) 4. Railway Audit Manual – Sixth Edition – June 2022

a) Chapter – 14 – Audit of Stores Dept.

b) Chapter - 12 – Audit of Mechanical Dept.

c) Chapter -13 – Audit of Production Units.

d) Chapter 3 – 9.3 – Stores Accounts

e) Chapter 3 - 9.4 – Workshop Accounts

Reading material /Suggested Reading:

1. C&AG MSO (Audit), 2002

2. Indian Railway Code for Mechanical Department

3. Indian Railway Code for Stores Department, Vols. I& II 4. Railway Audit Manual- Sixth Edition – June 2022

 

Group-II

PC-20: Commercial Audit, Commercial Laws and Corporate Tax Laws (Commercial Audit)

Durations: 02 hours Maximum Marks: 100

Part –I, Commercial Audit (Marks-60)
Topics  No.	Descriptive (30 Marks)	Topics  No.	MCQs (30 Marks)
Topics  No. 3.	Audit of Cash Transaction: Receipts and  Payments	Topics  No.1.	Nature and Principles of  Auditing, Basic Concepts of  Materiality, Risk, Planning,  Sampling, Substantive,  Testing and Analytical  Procedures.
Topics  No.4	Verification of Assets.	Topics  No.2.	Internal Controls: Nature  and Evaluation
Topics  No.6.	Audit of Financial Statements of  Companies	Topics  No.5.	Internal Audit, Statutory  audit and Government Audit.
Topics  No.7.	Audit of Public Sector Undertakings  (Section II, Chapter V of MSO (Audit).	Topics  No.8.	Appointment of Statutory  and Internal Auditors, their  Rights, Duties, Powers  Remuneration, Joint  Auditors, Branch Auditors.
Topics  No.9.	Provisions of Companies Auditors  Report Order, 2020 issued under Section  143 (11) of the Companies Act 2013.	Topics  No.10.	Directions issued under  Section 143(5) of the  Companies Act, 2013.
Topics  No.11.	Corporate Governance: Provisions of  Companies Act 2013 and SEBI (Listing  Obligations and Disclosure  Requirements) Regulations, 2015 as  amended from time to time.	Topics  No.12.	Audit Committee:  Constitution, Powers and  Duties.
Topics  No.14.	Special Features of Audit of a. Finance Companies b. Electricity Companies c. Transport Companies d. Insurance Companies	Topics  No.13.	Provisions of Companies  (Cost Records and Audit)  Rules, 2014 as amended  from time to time

 

 

57

	e. Social Sector/Welfare  Companies-Section 8 of  Companies Act, 2013.
Topics  No.15.	Audit of Autonomous Bodies	Topics  No.16.	Role of Audit in Relation to  Cases of Fraud and  Corruption.
Topics  No.17.	Audit of Public Partnership projects with  special emphasis on Concessionaire  agreements and sharing of revenue.	Topics  No.18.	Role of Parliamentary  committees with special  reference to Committee on  Public Undertakings
Topics  No.20.	Standards on Auditing issued by ICAI  (as amended from time to time): i. SA 200: overall Objectives of the  Independent Auditor and the  Conduct of an Audit in  accordance with Standards on  Auditing ii. SA 220: Quality Control for an  Audit of Financial Statements. iii. SA 230: Audit Documentation iv. SA 240: The Auditor’s  Responsibilities Relating to  Fraud in an Audit of Financial  Statements v. SA 300: Planning an Audit of  Financial Statements vi. SA 315: Identifying and  Assessing the Risks of Material  Misstatement Through  Understanding the Entity and its  Environment. vii. SA 320: Materiality in Planning  and Performing and Audit viii. SA 450: Evaluation of  Misstatements Identified During  the Audit ix. SA 500: Audit Evidence x. SA 520: Analytical Procedures xi. SA 530: Audit Sampling xii. SA 570: (Revised): Going  Concern	Topics  No.19	Auditing Standards issued  by the C&AG of India (As  amended from time to time) Chapter 1: Basic Postulates Chapter 2: General  Standards Chapter 3: Specific  Standards

 

 

	xiii. SA 700 (Revised): Forming an  Opinion and Reporting on  Financial Statements xiv. SA 701: Communicating Key  Audit Matters in the Independent  Auditor’s Report xv. SA 705 (Revised): Modifications  to the Opinion in the Independent  Auditor’s Report xvi. SA 706 (Revised): Emphasis of  Matter Paragraphs and Other  Matter Paragraphs in the  Independent Auditor’s Reports.
Part II A: Commercial Laws (25 Marks)
Topics  No.	Descriptive (05 Marks)	Topics  No.	MCQs (20 Marks)
Topics  No. 1	Companies Act.2013 – Chapter 1 to 4  and Chapter 8 to 12 – Rules issued by  Ministry of Corporate Affairs relating to  these Chapters.	Topics  No. 2	The Indian Contract Act,  1872.
Topics  No. 7	Securities and Exchange Board of India  Act, 1992 and Listing Agreement.	Topics  No.3	The Indian Sale of Goods  Act, 1930
		Topics  No.4	Negotiable Instruments Act,  1881.
		Topics  No.5	Electricity Act, 2003
		Topics  No.6	Road Transport  Corporations Act, 1950
		Topics  No.8	Foreign Exchange  Management Act, 1999  (FEMA).
		Topics  No.9	Payment of Bonus Act,  1965.
		Topics  No.10	Employees Provident Funds  Act, 1952.
Part II B: Corporate Tax Laws (15 marks)
Topics  No.	Descriptive (15 Marks)	Topics  No.	MCQs (00 Marks)
1.	Corporate Tax-Provision of Income Tax  Act relating to Income Tax on		____________

 

 

59

	Companies Disclosure Requirement  under Income Tax Act 1961.
2.	Central Goods and Services Tax Act,  2017.

 

 

60

Paper wise Exemption Matrix

Candidate need not appear in: Group-I: PC-1 to PC-8	If he/she has secured exemption in these  papers in the earlier SAS Exam:
PC-1 Language skills (Common to all branches)	PC-1 – Language Skill (All branches)
PC-2 Government Audit- (Common to all branches)	PC-22 - Government Audit (Civil and Local Audit)
PC-3 Information Technology  (Theory & Practical) (Common to all branches)	PC-3 - Information Technology (Theory)  (All branches)  &  PC-4 - Information Technology (Practical) (All branches)
PC-4 Financial Rules, Service Rules and Basic  Principles of Government Accounts and CPWA (Civil Accounts and Civil & Local Audit)	PC-5- Constitution of India, Statutes and  Service Regulations. & PC-8- Financial Rules and Principles of  Government Accounts (Civil Accounts, Civil  and Local Audit)
PC-5 Financial Rules, Service Rules and Principles  of Defence Accounts (Defence)	PC-6- Constitution of India, Statutes and  Defence Service Regulations (Defence) & PC-9 – Financial Rules and Principles of  Defence Accounts
PC-6 Finance Rules, Service Rules and Basic  Principles of Postal & Telecom Accounts (Finance and Communication)	PC-5- Constitution of India, Statutes and  Service Regulations (P&T Audit)  & PC-10 - Financial Rules and Principles of  Postal Accounts
PC-7 Railway Service Rules, Financial Rules and Principles of Railway Accounts	PC-7- Constitution of India, Statutes and  Service Regulations including related  Accounts/Audit Procedures (Railway) & PC-11 - Financial Rules, Principles of  Government Accounts/Audit and Works  Expenditure (Railway)
PC-8 Financial Rules, Service Rules, Basic  Principles of Government and PW Accounts and  Accounting Standards (Commercial)	PC-5 Constitution of India, Statutes and  Service Regulations (Commercial Audit)  & PC-12 - Financial Rules, Principles of  Government Accounts and CPWA (Commercial)

 

 

Paper wise Exemption Matrix

Candidate need not appear in: Group-II: PC-9 to PC-20	If he/she has secured exemption in these  papers in the earlier SAS Exam:
PC-9 Basic Financial Accounting and Analysis of  Financial Statements (Commercial) (Common to all branches except Commercial branch)	PC-13 – Accountancy (Civil Accounts) or PC-14 – Financial Accounting with  elementary Costing (Civil, Local, Defence,  P&T and Railway)
PC-10 Advanced Accounting and Costing (Commercial)	PC-15 - Advanced Accounting (Commercial) & PC-20 – Cost Accountancy, Commercial Laws  and Corporate Tax (Commercial)
PC-11 Advanced Government Accounts and  Government Accounting Standards (Civil Accounts)	PC-21 - Government Accounts (Civil Accounts)
PC-12 Compliance Audit and Performance Audit (Common to all audit branches)
PC-13 Government budgeting and flow of  resources (Civil Accounts)
PC-14 Financial Audit (Common to all audit branches)
PC-15 Entitlement Functions and Treasury  Inspection (Civil Accounts)
PC-16 Revenue Audit; Audit of Local Bodies;  Public Works Audit (Civil and Local Audit)
PC-17 Defence Audit	PC-17 – Defence Audit & PC-23 – Contract Audit and Audit Procedures  (Defence)
PC-18 Finance and Communication Audit	PC-18 – Postal Audit & PC-24 – Telecom Audit (P & T Audit)
PC-19 Railway Audit	PC-19 – Railway Traffic Revenue  & PC-25 - Government Audit including  Workshops and Stores Audit (Railway)
PC-20 Commercial Audit, Commercial Laws &  Corporate Tax Laws (Commercial)	PC-20 – Cost Accountancy, Commercial Laws  and Corporate Tax (Commercial) & PC-26 – Commercial Auditing (Commercial)