Copyright

This basic draft of Study Material has been prepared by the Secretariat of the Committee on Public and Government Financial Management (CPGFM) of the Institute of Chartered Accountants of India (ICAI) referring CA Foundation Material issued by the Board of Studies (Academic). The said material has been reviewed by the O/o Comptroller and  Auditors General (C&AG) of India, Institute of Public Auditors of India (IPAI) and one domain expert and based on their comments and suggestions, appropriate revisions have been made. The material contained herein is for private circulation and reference purpose only. The objective of the Study Material is to enable students to obtain knowledge in the subject. In case students need any clarifications or have  any suggestions for further improvement of the material contained herein, they may write to bloac@icai.in.

All care has been taken to provide interpretations and discussions in a manner useful for the students. However, the Material has not been specifically discussed by the Council of the Institute or any of its Committees and the views expressed herein may not be taken to necessarily represent the views of the Council or any of its Committees. ICAI or any of its Boards or Committees does not accept any  responsibility for the actions taken by the reader on the basis of the material contained in the material.

The copyright in respect of the material included in the material rests with the ICAI.

Permission of the Institute is essential for reproduction of any portion of this material.

© THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form, or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior permission, in writing, from the publisher.

Edition : November, 2023

Board : Board for Local bodies Accountants Certification (BLoAC)

E-mail : bloac@icai.in

Website : https://lba.icaiarf.org.in/