Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Sr. No Activity Risk Audit Steps
account
department
Check whether the issue are properly recoded in books as to the
quantity ad value
Check whether the issues are recorded within established time limits
after the material issue
Verify whether the material issued at the end of month is recorded in
the month of issue and not the subsequent period
• Obtain reasons for deviations and report as observation
24 Clarity of Responsibilities • Potential risk of fraud • Verify whether responsibilities are assigned to all the stores employees
• Verify whether material issue and recording is done by different persons
• Obtain reasons for deviations and report as observation
25 Control over issue of material on
FIFO basis
• Deterioration of material due to efflux
of time
• Obtain a stock report as on date with its ageing
• Verify whether FIFO system is followed for issue of material (FIFO: The
principle of a queue processing technique by issuing material on by firstcome,
first-issue. what comes in first is issued first, what comes in next
waits until the first is finished)
• Verify some cases of issue and check whether it is issued on FIFO basis
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