TERMS OF REFERENCE

 

  • To study, review and suggest reforms in Government Accounting System to ensure proper utilization and control over Public Finance.
  • To review, analyze, assist, recommend and suggest measures to the Central, State & Local Government, Public Sector Undertakings and other organizations including Municipal Corporation, Blocks, Gram Panchayats in the areas of Policy assessment, planning and execution in public finance.
  • Collaboration and coordination with Comptroller & Auditor General of India (CAG), Controller General of Accounts (CGA) and various Ministries/Government Departments/Local Bodies for developing a mechanism of improving the Government Accounting System.
  • Providing awareness of Government Accounting to the society at large and specifically to the stakeholders including inter–alia to employees of the government, C&AG, members of the profession, media, NGOs and to citizens generally.
  • To review budgets, circulars, notifications and other matters on public finance & policies and to send suitable memorandum/ representation containing suggestions for improvements and/or rationalization in the legislation or revenue/expenditure of Central/ State Government keeping in view the overall development of the Nation.
  • To assist in developing Public Finance structure and a robust mechanism for channelising adequate resources to ensure appropriate sectoral allocation for inclusive growth and economic development.
  • Enhancing the accountability and transparency in public service delivery mechanism.
  • To study and suggest ways and means of broadening the tax base and increasing tax mobilization.
  • To suggest checks and balances for monitoring periodical review/ audit of end use of funds.
  • To bring out newsletters, publications, and other useful inputs in areas of contemporary issues related to public finance and government accounting.
  • To form taskforce as required at Regional / State level for attainment of objectives of the Committee.
  • To undertake and organize training courses, seminars, workshops and   policy dialogue with a view to enhance understanding of issues concerning public finance and government accounting.
  • To increase the role of ICAI and its members in the various “Financial Inclusion” initiatives of the Government which would mainly emphasis on:
    • Assisting government in bringing appropriate regulatory and educational policy framework in place.
    • Collaborating intensively with different chambers and associations of industry.
  • Enhancing the role of members of the Institute of Chartered Accountants of India in Public Finance and Government Accounting.
  • To provide appropriate support to the Council and its Committees on the matters related to Public Finance and Government Accounting.