Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Sr. No Activity Risk Audit Steps
the contract
• Scrutinize the following aspects:
Payment of compensation of works to contractors/ suppliers‘ firms
All contracts concluded on cost plus profit basis
• Verify whether the correct amount of security deposit / guarantees have
been furnished by the vendor within the stipulated time, if required by
the contractual terms
• Verify whether the penalties leviable under the terms of the contract
have actually been enforced in the event of any default
• Verify whether the deviations from contractual terms are approved by an
authorised person/ personnel
8 Amendments/ Renewal of
contracts
• Delays attributable to the service
providers may go unidentified
• Project material may be procured way
before the commencement of the Project
• Check if there is any discrepancy between award of contract and
conditions of contract specially in regard to amendments, modification
having financial implication such as:
The payment terms are amended favorable to the supplier e.g.
Advance payment are authorized even when there is no provision
in the contracts for making advance payments. At time higher
advance payments than stipulated in contract authorized
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