Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Half yearly
Annual
• Date of audit: It specifies date on which audit was conducted.
• Audit work program: This section specifies the audit plan or methodology adopted by the auditors. It
can be classified into 3 catagories:
100% verification: Verification of all the transactions done during the audit period
Sample of transactions: Sample verification of transactions done during the audit period
Sample of months: Verifications of transactions done during sample months
• Executive summary: This section includes high level summary of audit observations which enable
higher authorities to understand overall coverage and risk identified during audit
• Financial Position of department: This section specifies overall financial position of the department.
Best practice is to compare current and previous year financials, it enables authorities to access
financial movement during the year.
• Total Transaction vs. Transactions verified: This section specifies total number and quantum of
transactions done during the audit period and number & type of transactions verified by the auditor.
• List of Audit findings: This section include list of observations along with page number reference.
Normally list of observations is either arranged by criticality of objection or section wise
• Detailed observations: In this section all the audit observations are explained in details along with
following:
Magnitude of risk/Risk mapping: Rating of observation on the basis of risk involved. It
can be Low, Medium or High
Root cause for observation: This section explains the reason for such observation. It
can be operational deficiency, system deficiency or system deficiencies
Audit recommendations: This section include recommendation from the auditor to
control risk mentioned in the observation
• Annexure related to observations: In this section all the annexure are provided for highlighting
instances where there are discrepancies in the transactions. This help to identify particular cases with
discrepancy.
• Follow up of last year: In this section implementation status of last year report in mentioned. Normally
only pending cases highlighted in this section along with the revised action plan and due date.
• Conclusion: This section presents the overall control environment of the audited department and
suggest scope of improvements to enhance the control environment of the department
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