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Questions and Answers
What is the primary purpose of the Objection Book in audit procedures?
What is the primary purpose of the Objection Book in audit procedures?
- To maintain records of all transactions
- To document the final audit reports
- To prepare draft proposals for new projects
- To record and track objections raised during audits (correct)
Which type of cases should be eschewed according to audit procedures?
Which type of cases should be eschewed according to audit procedures?
- Cases of financial irregularities and frauds (correct)
- Cases of project execution delays
- Cases where coordination is lacking among departments
- Cases involving minor procedural errors
What does the term 'utilisation certificate' refer to in audit reports?
What does the term 'utilisation certificate' refer to in audit reports?
- A document for negotiated purchases
- A report on idle machinery in the department
- A document confirming project completion
- A certificate indicating the use of funds for intended purposes (correct)
What is a significant focus of the audit reports according to the outlined procedures?
What is a significant focus of the audit reports according to the outlined procedures?
In relation to financial irregularities, what does the audit emphasize for management?
In relation to financial irregularities, what does the audit emphasize for management?
What is the primary purpose of issuing reminders for accounts not received during the monthly audit?
What is the primary purpose of issuing reminders for accounts not received during the monthly audit?
For agreements involving a money value less than what amount must the auditor scrutinize and accept them?
For agreements involving a money value less than what amount must the auditor scrutinize and accept them?
What is the primary content of the Objection Books maintained during the auditing process?
What is the primary content of the Objection Books maintained during the auditing process?
What is the importance of maintaining relevant registers connected with Inspection Reports?
What is the importance of maintaining relevant registers connected with Inspection Reports?
Which document must be dispatched to local audit parties to facilitate their operations?
Which document must be dispatched to local audit parties to facilitate their operations?
What action must the auditor take towards agreements received from divisions?
What action must the auditor take towards agreements received from divisions?
What does the maintenance of Control Registers and Portfolio files involve?
What does the maintenance of Control Registers and Portfolio files involve?
How is the receipt of inspection reports from local audit parties typically handled?
How is the receipt of inspection reports from local audit parties typically handled?
What is the purpose of handing over records such as 'Defects pointed out by the Director of Inspection' during an Internal Test Audit?
What is the purpose of handing over records such as 'Defects pointed out by the Director of Inspection' during an Internal Test Audit?
How often should compliance reports regarding omissions/objections in the Inspection Report be sent to the ITA/AG?
How often should compliance reports regarding omissions/objections in the Inspection Report be sent to the ITA/AG?
Which detail is NOT required in the 'Register of Defects pointed out by the Director of Inspection'?
Which detail is NOT required in the 'Register of Defects pointed out by the Director of Inspection'?
What should group officers review annually regarding the maintenance of files?
What should group officers review annually regarding the maintenance of files?
What is the implication of delaying compliance with observations made by the Director of Inspection?
What is the implication of delaying compliance with observations made by the Director of Inspection?
What type of measures should be implemented to avoid the recurrence of defects as noted in the Inspection Report?
What type of measures should be implemented to avoid the recurrence of defects as noted in the Inspection Report?
Which of these actions is NOT part of the Internal Test Audit process as stated in the document?
Which of these actions is NOT part of the Internal Test Audit process as stated in the document?
To whom must the compliance regarding omissions/objections be reported monthly after gathering necessary information?
To whom must the compliance regarding omissions/objections be reported monthly after gathering necessary information?
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Study Notes
Monthly Accounts Audit
- Obtain vouchers from AG (A&E) on specified dates, issue reminders for missing accounts.
- Audit agreements involving money values below 50,000; ensure receipt from divisions for higher-level scrutiny.
Data Collection and Register Maintenance
- Collect data on schemes, maintain Control Registers and Portfolio files for Branch Officer/DAG/AG review.
- Maintain Objection Books for tracking local audit parties and retaining objections from Central Audit.
Objections and Inspection Reports
- Issue objection memos and Audit Notes; coordinate with divisions and accounting sections for resolution.
- Receive and edit inspection reports from local audit parties; ensure proper dissemination and follow-up.
Inspection Report Management
- Maintain records associated with Inspection Reports, tracking receipt, issuance, and compliance actions.
- Handle documents such as selection files, last Inspection Reports, and Objection Books for local audit parties.
Internal Test Audits
- Ensure availability of records like "Defects pointed out by the Director of Inspection" for test checks as needed.
- Compliance with observations from Inspections is mandatory and should be acted upon promptly.
Inspection Compliance Reporting
- Send monthly compliance reports regarding omissions raised in Inspection Reports to Group Officer.
- Quarterly reports compiled from WAD Sections, submitted to ITA/AG on scheduled dates (15th of October, January, April, and July).
Standard Heads Review
- Group officers should conduct annual reviews of standard heads for file maintenance in April.
Public Works Divisions Audit
- Auditing involves issuing Audit Notes, monitoring objections, and addressing financial irregularities.
- Special reports on financial irregularities and returns of Audit Notes are crucial for accountability.
Financial Irregularities and Fraud Reporting
- Prepare Draft Paras for cases of financial irregularities, scams, and mishandling in Central government projects.
- Evaluate utilization certificates and report on idle machinery and negotiated purchases.
Audit Observations and Financial Stocktaking
- Document auditing observations with specific cases of financial irregularities.
- Conduct financial stocktaking for major engineering projects to ensure effective use of resources.
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