With reference to the apex committee for Performance and Efficiency Audit, consider the following statements:1. Defence Ministry has set up an apex committee with Defence Secretary as Chairman to conduct a Performance and Efficiency Audit into various aspects of its activities.2. It is a major shift from the existing transaction-based compliance audit to carry out an outcome-based Performance and Efficiency Audit aimed at enhancing overall efficiency.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?

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With reference to the apex committee for Performance and Efficiency Audit, consider the following statements:

1. Defence Ministry has set up an apex committee with Defence Secretary as Chairman to conduct a Performance and Efficiency Audit into various aspects of its activities.

2. It is a major shift from the existing transaction-based compliance audit to carry out an outcome-based Performance and Efficiency Audit aimed at enhancing overall efficiency.

Which of the statements given above is/are correct?

a)
1 only
b)
2 only
c)
Both 1 and 2
d)
Neither 1 nor 2

Correct answer is option 'C'. Can you explain this answer?

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Daily Current Affairs MCQ- July 18, 2022

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With reference to the apex committee for Performance and Efficiency Au...

Defence Ministry has set up an apex committee with Defence Secretary as Chairman to conduct a Performance and Efficiency Audit into various aspects of its activities.

This kind of audit is expected to provide valuable inputs to the top management of the Ministry in planning and execution of projects, and suggest systemic improvements in internal controls, soundness of financial procedures and identification of risk factors.
It is a major shift from the existing transaction-based compliance audit to carry out an outcome-based Performance and Efficiency Audit aimed at enhancing overall efficiency.
The members of the committee include Vice Chiefs of the three Services, Secretary Defence (Finance), Chief of Integrated Staff Committee, Controller General of Defence Accounts, Director General (Acquisition) and other senior officials of Ministry of Defence and Defence Research and Development Organisation.
The committee chaired by Defence Secretary will identify specific areas for the conduct of performance and audit by Controller General of Defence Accounts and monitor performance audit reports and action taken thereon.

Hence both statements are correct.

Answered by Notes Wala · View profile

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With reference to the apex committee for Performance and Efficiency Audit, consider the following statements:1. Defence Ministry has set up an apex committee with Defence Secretary as Chairman to conduct a Performance and Efficiency Audit into various aspects of its activities.2. It is a major shift from the existing transaction-based compliance audit to carry out an outcome-based Performance and Efficiency Audit aimed at enhancing overall efficiency.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?

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