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    Audit Note: Divisional Accounts Officer

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    Shaloom TV
    This audit note summarizes issues found during an audit of record compliance and maintenance by the office. It was discovered that recovery of a mobilization advance granted against a scheme was not recovered after 20% of the contract period or work was completed, whichever came earlier, as required. Neither the SDO nor the accounts branch recovered the advance over 2 years, violating finance department instructions. As a result, a 12% compound interest penalty per year is being suggested on the outstanding amount due to negligence. An office note then reports that 3 audit paragraphs could not be settled due to non-production of records for verification of cash book, bank scroll, and monthly account entries, as producing such records is not standard practice for the office

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    Audit Note: Divisional Accounts Officer

    Uploaded by

    Shaloom TV
    23 views2 pages
    This audit note summarizes issues found during an audit of record compliance and maintenance by the office. It was discovered that recovery of a mobilization advance granted against a scheme was not recovered after 20% of the contract period or work was completed, whichever came earlier, as required. Neither the SDO nor the accounts branch recovered the advance over 2 years, violating finance department instructions. As a result, a 12% compound interest penalty per year is being suggested on the outstanding amount due to negligence. An office note then reports that 3 audit paragraphs could not be settled due to non-production of records for verification of cash book, bank scroll, and monthly account entries, as producing such records is not standard practice for the office

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    Audit Note

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    This audit note summarizes issues found during an audit of record compliance and maintenance by the office. It was discovered that recovery of a mobilization advance granted against a scheme was not recovered after 20% of the contract period or work was completed, whichever came earlier, as required. Neither the SDO nor the accounts branch recovered the advance over 2 years, violating finance department instructions. As a result, a 12% compound interest penalty per year is being suggested on the outstanding amount due to negligence. An office note then reports that 3 audit paragraphs could not be settled due to non-production of records for verification of cash book, bank scroll, and monthly account entries, as producing such records is not standard practice for the office

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    23 views2 pages

    Audit Note: Divisional Accounts Officer

    Uploaded by

    Shaloom TV
    This audit note summarizes issues found during an audit of record compliance and maintenance by the office. It was discovered that recovery of a mobilization advance granted against a scheme was not recovered after 20% of the contract period or work was completed, whichever came earlier, as required. Neither the SDO nor the accounts branch recovered the advance over 2 years, violating finance department instructions. As a result, a 12% compound interest penalty per year is being suggested on the outstanding amount due to negligence. An office note then reports that 3 audit paragraphs could not be settled due to non-production of records for verification of cash book, bank scroll, and monthly account entries, as producing such records is not standard practice for the office

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Audit Note

    CP
    1
    During scrutiny of previous record complied and maintained by your good office
    revealed that recovery of Mobilization Advance granted against the scheme of
    ____________________________ awarded to MS: _______________ was to be recovered
    after laps of 20% contract period or after the execution of the 20% of the work (Financial
    Terms) which ever is earlier. The rate of recovery should be 25% the value of work done in each
    interim pay certificate (running bill). It is astonishing to point out that neither be recovery
    made by S.D.O ____ nor this office inspite of laps of 2 year, in such illegal practice your office
    violated the instruction of Finance Department vide letter No. RO(Tech)FD-18-44/2006 dated
    07-02-2007.

    Keeping in the view alarming situation created due to negligence of SDO ______
    and accounts branch of this office. It is hereby suggested that penalty @ 12% compound
    interest per year on the amount Rs.________________.

    Divisional Accounts Officer


    Office Note

    It is reported that 3-Nos Printed Draft Para No. 2.2.40, 3.4.29.1 and 3.4.3.2
    respectively regarding non-recoveries of additional cost from allottees of scheme ADS-I & II
    Hafizabad and ADS-I People Colony at Gujranwala were not settled by audit due to
    non-production of records to audit for verification to authenticate the receipt pertaining to
    cash book, bank scroll and its accountal in monthly account whereas it is found, there are no
    such practice to write cash book and Government receipt in this Office.

    Further comments may be added in this regard to settle the above Paras.

    D.D DAO

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