Auditing and Finance Management

281 Pages·2008·9.87 MB·English

by  Mahesh Tripathi

Auditing and Finance Management

AUDITING
AND
FINANCE MANAGEMENT
Mahesh Tripathi
NAVYUG PUBLISHERS & DISTRIBUTORS
NEW DELHI -110 053 (INDIA)
Published by :
NAVYUG PUBLISHERS & DISTRIBUTORS
L-21/1, Street No.5, Shivaji Marg, Near Kali Mandir,
_ J.P. Nagar, Kartar Nagar, West Ghonda, Delhi -110 053
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Auditing and Finance Management
©Reserved
First Edition: 2008
ISBN 978-81-906940-5-6
All riqhts reserved no part of this work may be reproduced, stored in a retrieval
system, or transmitted in any form or by any means, electronic, mechanical,
phtocopying, recording or otherwise, without the prior written permission of the
publishers.
PRINTED IN INDIA
Published by Ramesh Yadav for Navyug Publishers & Distributors,
Delhi and printed at Sachin Offset Printers, Delhi -53.
Preface
Audit is one such initiative which is gaining ground and it
encompasses all the three elements. With the enactment of
the NREGA, The Audit has become mandatory and is
widely talked and written about. However, the Audit is still
an emerging and evolving concept and not much literature
in terms of guidelines or handbook or manual is available
for use by either the development functionaries or civil
society organisations.
This book is designed to help officials and
representatives of people's organizations and movements
who want to facilitate the process of audit and finance.
This book aescribes tnt:: characteristics of auditing and
finance management. It also describes the relationship
between the finance management and auditing and
includes all the topic related to the aUditing and finance
management like finance poverty in India. Auditing for
social change in the context of the millenium development
goals. The role of auditing and public finance management
and media and audit. This book also contains examples of
how these general principles of auditing and finance can
be applied to various programmes and schemes.
We have collected the material from Several academic
institutions and research centres. It is a comprehensive
work published for the first time in India, keeping in view
the needs of syllabus of university level and higher
education systems. It is earnestly hoped that planners,
administrators in the field of auditing, finance management
as well as the general public and the teachers and students
will find this work extremely useful.
Mahesh Tripathi
Contents
Preface v
l. An Introduction to Finance Management 1
2. Financial Poverty in India 23
3. Auditing for Social Change in the
Context of the Millennium Development Goals 49
4. The Role of Auditing and
Public Finance Management 68
5. Audit and Legislative Oversight:
Developing Country Perspective 100
6. Learning from Civil Society Initiatives 125
7. Media and Audit 146
8. Audit and Evaluation: Integrating Politics and
Public Involvement 167
9. Governance and Accountability:
A Legal Approach to Auditing 198
10. History and Evaluation of Social Accounting 225
1I. Social and Environment Auditing
Theory and Practice 234
Bibliography 261

1
An Introduction to
Finance Management
To begin our study of financial management, we address
two central issues. First: What is corporate, or business,
finance and what is the role of the financial manager?
Second: What is the goal of financial management?
Before we plunge into our study of "corp. fin.," ~e
think a quick overview of the finance field might be a good
idea. Our goal is to clue you in on some of the most
important areas in finance and some of the career
opportunities available in ~ach. We also want to illustrate
some of the ways finance fits in with other areas such as
marketing, management, and accounting.
THE FOUR BASIC AREAS
Traditionally, financial topics are grouped into four
main areas :
1. Corporate finance
2. Investments
3. Financial institutions
4. International finance
Corporate Finance
The first of these four areas, corporate finance, is the