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
In absence of mala fide intention bank should not be treated as assessee in default for late deduction and deposit…
Whether bank account was fraudulently open in the name of assessee is question of fact. High Court declined to entertain…
SBI Concurrent Auditor Empanelment of Chartered Accountant Firms for FY 2024-25 SBI Concurrent Auditor Empanelment of CA Firms for FY…
Change in the constitution of Appellate Authority for CAs CSs and Cost Accountants In 2015, the Ministry of Corporate Affairs…
Trade Tax Department was unjustified in retaining refund beyond stipulated period and adjusting it against default notices issued subsequently. In…
Notice issued u/s 143(2) prior to filing of return of income by the assessee was invalid. Before filing ITR provisions…