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Regional Training Institute, Ranchi Structured Training Courseware on Treasury Inspection

Regional Training Institute, Ranchi Structured Training Courseware on Treasury Inspection. Session - 6 Conducting Treasury Inspection. Learning Objectives. At the end of this session, the participants will gain an understanding of Scope of TI Steps involved in conduct of TI

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Regional Training Institute, Ranchi Structured Training Courseware on Treasury Inspection

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  1. Regional Training Institute, RanchiStructured Training Courseware on Treasury Inspection Session - 6Conducting Treasury Inspection

  2. Learning Objectives • At the end of this session, the participants will gain an understanding of • Scope of TI • Steps involved in conduct of TI • Procedures for conveying their audit observations to the relevant authorities

  3. Objectives of TI – Summary • Check/ ensure that • Procedures for preparation of initial accounts are complied with • Procedures for passing of bills are complied with • There are no fraudulent payments or deposits

  4. Objectives of TI (Contd.) • There is a proper system for reconciliation of balances • Arrangements for custody and handling of valuables are observed

  5. Scope of TI • Refer • Chapter 20 of CAG’s MSO(A&E) Vol. I • Paras 54-55 of Secret Memorandum of Instructions • Period of coverage • Generally one year • Scope of check • 10% of all records test checked at random, AND • Detailed check of one month’s records/ transactions

  6. Distribution of Work • Sr. AO/AO • Custody of Treasury • Strong Room • Currency Chest Balance • Review of outstanding paragraphs • General Guidance and Supervision

  7. Distribution (Contd.) • AAO-I • Government Securities and Promissory Notes • Cash Chests and Valuables • Accountant’s Cash Book and Balance Sheet • Opium • Sub-Treasury Accounts • Cash and Contingency Charges • Establishment Audit

  8. Distribution (Contd.) • AAO-II/ SO • Custody, supply and sale of stamps • Custody of cheque books and receipt books • Cheques and LOCs • Treasurer’s Account • Civil and Military Pensions

  9. Distribution (Contd.) • Sr. Accountant/ Accountant • Deposit Transactions and PL Accounts • Register of Payments • Reconciliation of Bank Scrolls • Checking of Service Books

  10. Preliminaries • TI Intimation to Treasury 15 days in advance • Questionnaire for relevant information about Treasury • Requisition for production of records • Requisition on 1st day • For information needed for drafting IR

  11. Issue of Preliminary Observation Memos (POMs) • POM • Issued by AAO/SO • Clear and concise • Meant to obtain confirmation from auditee, avoid jumping to conclusion • Replies to POMs are essential • For minor irregularities • Memos may be discussed and settled

  12. Issue of POMs (Contd.) • Serious observations • To be discussed with TO/SDO/Collector and • Para finalised • Draft IR should be finalised and discussed with authorities • Signature of authorities on Inspection Note on closing date

  13. Issue of POMs (Contd.) • Separate sheet by Inspecting Officer on Pending Paras • Draft IR • With supporting documents, and • Checklist of records • To be sent to Headquarters. by registered post within 2 days

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