Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Sr. No Activity Risk Audit Steps
F
Payments
41 Authorized and correct
payments
• Unauthorized payments
• Payment without receipt of goods
or service
• Take an adequate sample for payments made to vendors
• Verify that payment is made only when receipt of goods and services is
confirmed by the user department, except in case of advance to vendor
• Verify that penalty/charges (for any short receipt/ damages, if applicable) are
deducted at the time of making payment to the vendor
• Verify approval of competent authority for making payments
• Report all the cases of early or late payments
42 Invoice processing • Risk of excess payment
• Potential risk of multiple payments
against same invoice
• Potential risk of defalcating
• Take an adequate sample of payments made to vendors
• Verify that the payment is made after approval from competent authority
• Verify that no excess payment is made to the vendor
• Verify control over duplicate payment processing (multiple payment for 1
invoice)
• Verify segregation of duties between invoice verification and payment
processing
43 Payment for Procurement of • Potential risk of overpayment • Take a list of payments made to vendors for providing services for the audit
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