Consider the following statements 1 Government or institutional audits are those that are conducted ...........

Governance Issues Accountability and Transperancy

Consider the following statements

1. Government or institutional audits are those that are conducted in-house or through external, professional, auditing institutions, and are ordinarily conducted without the significant involvement of the affected people and/or the intended beneficiaries.

2. Social audits are those that are conducted solely by the people, especially by those people who are affected by, or are the intended beneficiaries of, the activity being audited.

3. MGNREGA has inbuilt provisions for social audit.

Which of the above statements is/are correct?

1, 3 only

3 only

1, 2 only

1, 2, 3

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Explanation:

Statement 1 and 3 are correct and Government or institutional audits are those that are conducted in-house or through external, professional, auditing institutions, and are ordinarily conducted without the significant involvement of the affected people and/or the intended beneficiaries.MGNREGA has inbuilt provisions for social audit.A social audit may be initiated by a firm that is seeking to improve its cohesiveness or improve its image within the society. If the results are positive, they may be released to the public. For example, if a factory is believed to have a negative impact, the company may have a social audit conducted to identify actions that actually benefit the society.Social audits are not conducted by people.