cag.gov.in CPD Continuous Professional Development Exam Syllabus : Comptroller and Auditor General of India.

Organisation : Comptroller and Auditor General of India.
Announcement : Syllabus
Name of Examination : Continuous Professional Development (CPD) Examination

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CPD Exam Syllabus :

Stage – I Examination :
C1. Financial Management :
1. Analysis of Financial Statements : Analysis and Interpretation of Financial Statements, Techniques and limitations of Financial Analysis, Ratio Analysis, Funds Flow Analysis and Cash Flow Analysis.

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2. Concepts of Value and Return : Time preferences for money, present value, future value, value of annuity, Rate of Return.

3. Investment Decisions : Concepts of Capital Budgeting, Capital Budgeting Appraisal Methods, Tactical Versus Strategic Investment Decisions, Capital Rationing, Factors Affecting Capital Investment Decisions.
4. Financial Planning and Capital Structure : Estimating Capital Requirements, Fixed Capital, Working Capital, Capitalization, Patterns of Capital Structure

5. Sources of Finance :
Financial Markets, Security Financing, Debentures, Loan Financing, Bridge Finance, Loan Syndication, Book-Building, New Financial Institutions, Venture Capital Institutions, Mutual Funds, Factoring Institutions, New Financial Instruments:

Commercial Papers, Securitization of Debt, Global Depository Receipts (GDR), Derivatives: Options, Forward, Future and SWAP, Lease Financing: Concept of Leasing, Types of Lease Agreements, Difference Between Hire Purchase and Lease Financing.

6. International Financial Management :
Foreign Exchange Market, Exchange Risk Management, Mode of Payment in International Trade; Open Account, Bank Transfer, Letter of Credit, Consignment Sale.

7. Public Procurement :
Principles and Methods of Public Procurement, Transparency and Professionalism in Public procurement, Penalties & debarment etc. Provisions relating to Procurement of goods and services, Outsourcing of services, Contract management and Inventory management as embodied in the General Financial Rules, Indian Contract Act, 1872, The Arbitration & Conciliation Act, 1996.

Suggested Readings:
1.Taxman’s Financial Management by Sh. Ravi M. Kishore
2.Indian Financial System by Sh. H R Machiraju, published by Vikas Publishing House Pvt. Ltd. New Delhi 8.
3.Public Procurement Bill, 2012.
4.General Financial Rules (Chapter 6,7,8)
5.Indian Contract Act, 1872.
6.The Arbitration & Conciliation Act, 1996.

C2- Auditing Principles and Standards :
Financial and Compliance Audit, Methods and Procedure of auditing including auditing in Information Technology (IT) Environment, Regulations issued on Audit and Accounts issued by the CAG of India. MSO (Audit) including Financial Attest Audit Manual, Auditing Standards issued by the CAG of India, International Auditing Standards issued by the IFAC. Auditing Standards issued by the INTOSAI

Suggested Reading:-
1.Auditing Standards issued by the CAG of India
2.International Auditing Standards issued by IFAC
3.Auditing Standards issued by the INTOSAI
4.MSO (Audit) including financial attest audit manual
5.Regulations on Audit and Accounts.

Stage –II Examination :
C3 – Public Financial :
1. Public Financial Management
Meaning and Importance of Public Finance, The Principle of Maximum Social Advantage, Role of Public Finance under different Economic Systems, Concept and Principles of Federal Finance, Analytical study of Union Budget, Government Accounting Standards issued by the GASAB.

2. Public Expenditure
Principles of Public Expenditure, Revenue and Capital Expenditure, Development and Non-Development Expenditure, Effects of Public Expenditure

3. Public revenue
Sources of Revenue, Taxes, Canons of Taxation, Characteristic of Good Tax System, The Theory of Tax Structure Development, Changes in Tax Structure under the Impact of Economic Development, Incidence of taxation Money Burden and Real Burden. Factors Determining Incidence, Relative Merits and Demerits of Direct and Indirect Taxes.

4. Problem of equity
Cost of Service Principle, Benefit or ‘Quid Pro Quo’ Theory. ‘Ability to Pay’ Theory, Proportional vs. Progressive Taxation. Taxable Capacity.