Finance Ministry

Settlement of audit objections in Ministries-Departments. JS level Committee to be set up to settle outstanding Inspection Reports & Audit Paras

F.No. 12(10)/E-Coord/2016
Government of India
Ministry of Finance
Department of Expenditure

Lok Nayak Bhavan, New Delhi
Dated the 10th August 2016

OFFlCE MEMORANDUM

Subject: Settlement of audit objections- formation of Committee.

It has been brought to the notice of this Ministry that a large number of Inspection Reports (IRs) /Audit Paras are pending with Ministries/Departments where even the first reply has not been fururnished to Audit.

2. As per C&AG Regulations 197, the replies to observations raised in Inspection Reports are to be furnished within four weeks of Where it is not feasible to furnish the final replies to some of the observations within the time line, interim reply may be given indicating likely elate of final reply. Timely settlement of audit objections is important as it involves taking remedial actions as well as streamlining of procedures.

3. Accordingly, in supersession of this Department’s M. No. 12(9)/E-Coord/84 dated 1.1.1985 on the above mentioned subject, it has been decided that every Ministry/Department will set up a Committee at JS level as Chairman and Under Secretary(Administration), Under Secretary (IFU) and DDO as member to settle the outstanding Inspection Reports & Audit Paras. The Committee may co-opt one member, if required, from the Division concerned with the IR/Audit Para. The Committee will meet as frequently as required to settle the audit objections.

4. Ministries/Departments are requested to ensure that IRs/Audit paras are attended to promptly so that they are not converted into full fledged audit paras.

5. This issues with the approval of Joint Secretary (Pers).

(R.K.Kureel)
Deputy Setretary to the Government of India

Share

Recent Posts

  • Income Tax

Expenses of ESOP are allowable as revenue expenditure u/s 37(1) of Income Tax Act.

Expenses incurred on ESOP are allowable as revenue expenditure u/s 37(1) of Income Tax Act – ITAT Delhi In a…

11 hours ago
  • Income Tax

Compliance history of supplier can’t be used to invalidate genuine business transactions of buyer

Compliance history of supplier could not be used to invalidate the genuine business transactions of the buyer especially when the…

12 hours ago
  • Income Tax

Reassessment quashed as AO issued notice u/s 148 instead of 153C as reopening was based on search

Reassessment quashed as AO issued u/s 148 instead of 153C as reopening was based on incriminating material found during search…

13 hours ago
  • Empanelment

Empanelment of CA/CMA /Legal firm for FEMA & other allied services at EPIL

Empanelment of Chartered Accountants/Cost Accountant/Legal firm for FEMA & other allied services Engineering Projects (India) Ltd. has invited application for…

15 hours ago
  • Service Tax

Individual contract for booking persons for participation in event not event management liable to service tax

Individual contract for booking of persons for participation in an event is not “event management” contracts liable to service tax…

16 hours ago
  • Income Tax

Minor delay should not come in legitimate claim for any deduction – High Court

Minor delay should not come in the way of legitimate claim for any deduction if the assessee is otherwise entitled…

16 hours ago