Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Detailed observation indicating absence of control/ existence of gaps in a particular
department, area, function etc.
• Risk:
The Probable loss (financial / non financial that may occur in case of the above mentioned
absence of control
• Recommendation:
Action recommended by the Audit team for addressing the risk. Always be aware of the cost/
benefit implications of any recommendations made
• Management Response:
Auditee‘s response to the observation, including identifying the action to be taken to address
the risk, who will take the action (Responsible official), and a date by which the action will be
completed (Timeline).
Guidelines for the preparation, distribution and approval of audit reports
• The team-in-charge should prepare the audit report including the covering letter
• A copy of the report should be provided to the auditees before the exit meeting.
• Prior to the exit meeting, the team-in-charge's copy of the report should be referenced to
the audit work papers
• Management Comments should be obtained during discussion in Exit Meeting
• Based on Exit Meeting, Draft reports will be issued to the auditees with direct
responsibility for the facility, function, process or department audited including their
responses provided during Exit Meeting within a week of Exit Meeting. Head of Audit will
determine additional distribution to higher level management
• Final audit report shall be issued upon receiving confirmation/response to draft
audit report and approval of audit report by competent authority. Incase of no
response within one month from the date of issue of draft audit report, draft audit
report shall be automatically converted to final audit report
• Audit Reports are confidential and are not to be distributed outside or to other
departments without the consent of head of Audit.
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