This section of the book is from the "Introduction To Public Finance" book, by Carl Copping Plehn.
When the budget has been prepared and voted, the next step is to see that the expenditure is carried out as authorised and to prevent any misappropriation of the funds. In England the funds are deposited with the Bank of England, subject to the order of the Comptroller and Auditor General only. This officer's duties are a combination of those of the old Board of Audit created by Pitt in 1785 with those of the Exchequer, and date from 1866. No payment is made without (1) an Act of Parliament, (2) a requisition by the Treasury1 issued to the Comptroller General, (3) a grant of credit for the amount authorised by the Act good for one year, (4) a Treasury order directing the transfer of the money to the Paymaster General of the Service.2 As the estimates have been closely scrutinised, there is little opportunity for the misapplication of funds. There is none whatever for over-draft. Again, after the expenditure has been made, the accounts with vouchers are passed through the Comptroller's office for his approval, or audit. The report of that officer is subjected to the final revision of the Parliamentary Committed of Public Accounts. Thus the whole process begins and ends with Parliament. It will be seen that there are really two parts to the process. First, the control over the "issues" to the disbursing officers, that is, over the placing of the public moneys in their hands. Secondly, the audit of the accounts after the expenditures have been made.