Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Sr. No Activity Risk Audit Steps
• Verify whether the bid document mentions the scope, nature and extent of
the commercial development and expected revenue generation
• Verify that the members of the consortium, who claim experience or net
worth in the RFQ must hold at least 26% of the consortium's equity
Obtain justification for exceptions and report the same
2 Agreement between Public and
Private parties
• Non adherence to set policies and
procedures
• Availability of incomplete documents
with respect to works/ contracts
• Original/Amended Contracts not
approved
• Event of default in not defined in
agreement
• Verify whether the following are clearly agreed upon in the
contract/agreement wherever applicable
Grant requirements for the project so as to avoid future disputes
Percentage of revenue and expenses private parties would be willing to
share with the government agency
• Verify whether concession/ concession period set is clearly mentioned in the
contract
• Verify that work performance guarantee terms should be included in the
agreement/ contract
• Verify whether charges and responsibilities of Government and private party
has been defined in the agreement
• Verify whether the Concession Agreement identifies the project risks and
shift them to parties in a balanced manner
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