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FP AUDIT COMMITTEE

FP AUDIT COMMITTEE. SCOPE OF WORK MAIN OBSERVATIONS . SCOPE OF WORK . PERIODIC AUDIT - QUARTERLY & ANNUAL PRE AUDIT – PROJECTS/PROPOSALS COMPLIANCE OF BYE LAWS/AGM & MC DECISIONS ADHERENCE OF SYSTEMS AND PROCESSES. MAIN OBSERVATIONS. SUBMITTED THREE REPORTS

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FP AUDIT COMMITTEE

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  1. FP AUDIT COMMITTEE SCOPE OF WORK MAIN OBSERVATIONS

  2. SCOPE OF WORK • PERIODIC AUDIT - QUARTERLY & ANNUAL • PRE AUDIT – PROJECTS/PROPOSALS • COMPLIANCE OF BYE LAWS/AGM & MC DECISIONS • ADHERENCE OF SYSTEMS AND PROCESSES

  3. MAIN OBSERVATIONS SUBMITTED THREE REPORTS 1. April to June 2011 2. July to December 2011 3. January to March 2012

  4. Account and Finance Related • FBD OPERATING AN ACCOUNT IN KARNATAK BANK IN FPPOA’S NAME • FDs TO BE SHIFTED TO GOOD BANKS GIVING HIGHIER INTEREST RATES • IT RETURNS ARE TO BE FILED TO GET BACK TDS • CASH TRANSACTIONS TO BE DONE ONLY THROUGH IMPREST • FIXED ASSET INVENTORY HOLDER MUST SIGN FOR ALL INVENTORY • APNA COMPLEX GLITCHES IN ITS ACCOUNTING MODULE IMPLEMENTATION

  5. COMPLIANCE OF BYE LAWS/AGM DECISIONS • AGMs are to be held in the month of May • Stand By Street Light Project Pending • Signing Up of Agreements a. For FP Club House b. For Land Lords to Pay Association Charges c. FC Club House

  6. SYSTEM AND PROCESSES • Bill Passing System ( Acct Payables) • Recruitment Process • Pre Audit of Proposals for a. Projects of cost exceeding Rs. 1.00 lac b. Increase in Association Charges

  7. THANKS

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