3 fold Object of Statutory Audit
Source: 116 F1 - Para Number 16 of Chapter One of Finance Code Volume One (Revised edition of 2022)
Broadly:
Accountancy Audit - accuracy of arithmetical calculations and supported vouchers
Appropriation Audit - checking the correct Classification of expenditure or not
Administrative Audit - Audit of Sanctions as per rules and regulations
In Detail:
Accountancy Audit:
To check the accuracy of arithmetical calculations and to see that all payments are supported by receipted vouchers.
Akin to the audit by company auditors whose objectives are detection of fraud, detection of technical errors and the detection of errors in principle.
It assesses the adequacy of the accounting system and the system of internal check in the organization.
Appropriation Audit:
Check the classification of expenditure to ensure that expenditure and receipts have been charged to the proper heads of account
Also, the voted appropriations under these heads have not been exceeded.
Part of Parliamentary control over Railway Finances.
Administrative Audit:
Audit of sanctions to check that expenditure has been incurred according to prescribed rules and regulations
If not, it has been sanctioned by a competent authority.