Section 110(3) in Punjab Panchayat Samitis and Zila Parishads Finance, Budget and Accounts Rules, 2014
(3)In addition so the ordinary audit, higher audit shall also be conducted by the Audit Authority with reference to the following cannons of financial propriety:-(i)every Public Officer should exercise the same vigilance in respect of expenditure incurred from the public funds as a person of ordinary prudence would exercise in respect of the expenditure of his own money.(ii)money borrowed on the security of allocated revenue should be spent only on those objects as provided in the rules made under the Act, if the money is utilized on works which are not productive, arrangements should be made for the amortization of the debt; and(iii)no authority should pass an order in exercise of its powers of sanctioning expenditure, which shall be, directly or indirectly, to its own advantage.
