Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Sr. No Activity Risk Audit Steps
9 Correctness and accuracy in
preparation of ‗Revised
Estimates‘
(Refer Chapter 7(51, 52 and
53) of Budget Manual)
• Inaccurate preparation of revised
estimates
• Verify methodology for computation of Revised Estimate for adherence to
guidelines as per the Budget Manual
• Verify whether the revised estimate is based on:
ascertained actual of the past months of a financial year, and
an estimate of the probable figure for the remaining months of that
year
• Verify whether the revised estimates are based on the actual of the first six
months of the year and are framed in one of the following ways :
by adding to the actual of the first six months of the current year those
of the last six months of the previous year, or
by taking a proportionate figure so that the revised estimate will be
twice the actual for the first six months, or
by assuming that the revised estimate for the current year will bear the
same proportion to the actual of the first six months as the actual in
the previous year bore to those of the first six months of that year
10 Adherence to timelines for
submission of ‗Revised
Estimates‘ and ‗Preliminary
• Delay in preparation of Budgets
• Inaccurate estimates in budget
• Compare the date of actual submission against the prescribed timelines
• Identify delays in submission as per prescribed timelines and ascertain
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