Tuesday, December 1, 2020

Audit of Implementation of MDM


1. Audit of Implementation of MDM (Mid-day Meal) Scheme (distribution of dry ration) in the state of Andhra Pradesh during COVID-19 for the financial year 2019-20 and 2020-21 will be taken up by the audit team headed by Sri E.Araasu, SAO of this office from 01-12-2020.

The audit team will comprise of the following personnel:

2..Broad objectives of audit are as under:

a)  Financial   statements   are   prepared   in   accordance   with   acceptable accounting standards/rules;
(b)Financial statements are presented with due consideration to the circumstances of the audited entity;
(c) Sufficient disclosures are presented about various elements of financial statements;
(d) The  various  elements  of  financial  statements  are  properly  evaluated,
measured and presented; and
(e) Evaluation of the internal control that assist in safeguarding assets and resources, assures the accuracy and completeness of accounting records and in complying with financial laws and regulations.

3.   The   period  covered   under  the   audit   shall   be  from  19.03.2020  to 30.11.2020 which may also include examination of documents/transactions of the previous years’, considered relevant by the audit team.

4. Consistent with contemporary professional practice and provision in CAG’s Regulations on Audit and Accounts 2007 (Regulation 183) our audit team would  seek  an  entry  conference  at  appropriate  top/senior  level,  having control and authority over the subjects under the present audit.   The entry conference will be an opportunity for the audit team to explain the audit objective criteria and examination of the internal control system. It is desirable that the entry conference is held on the first working day of the audit period. On the conclusion of the audit, the audit team would request you for an exit conference (Regulation 191) in which audit findings communicated to the auditee will be discussed.

5.  The request for the entry and exit conferences will be made formally by the Head of the Audit Team.  We request you to kindly make it convenient to hold the meetings on the opening and closing days of audit respectively.

6.  Our audit shall be conducted with reference to the Auditing Standards and Regulations on Audit and Accounts-2007 issued by the Comptroller and Auditor General of India.

7.  Under Section 18 of the Comptroller and Auditor General of India’s (Duties, Powers and Conditions of Service) Act 1971, it is the responsibility of the person in charge of any office or department, the accounts of which have to be inspected and audited by the Comptroller and Auditor General of India to afford all facilities for inspection by the audit team and comply with the request for information in as complete as a form as possible and with all reasonable expedition.   Our audit team shall request for information and documents,  indicating  the  expected  time  within  which  these  may  be provided.   We expect that the documents held by the auditee should be available within the same day and the information would be made available within the time indicated in the information seeking memo.
8.  Attention is drawn to Regulation 169, which provides that the form, type and extent of data, information and documents required for audit test and the nature of shall be determined by audit officer and that the data, information and documents would also include those obtained by auditable entity from the third party and relied upon by the auditee in its performance of functions.

9.  We also draw your attention to Regulation 172, which enjoins that where required by audit in special circumstances the auditable entity shall conduct physical verifications of stores, stocks, assets etc. in the presence of the audit officer.

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