Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Control over Assets
i. Steps taken to exercise control over assets and their adequacy
ii. Details of physical verification done as per the prescribed guidelines
iii. Details of inventory (Medicines, Spare Parts, Fertilizers, Manures etc) obsolete due to expiry of shelf life
iv. Review of the means of safeguarding assets. And as appropriate, verify the existence of such assets. The objective of the management is to
ensure that assets are reasonably and adequately protected against loss and that they are properly managed and accounted for. The
safeguard of assets should not be restricted to mere pilferage but physical threats like fire, water, electricity, etc;
Internal Control
i. Determine whether the existing system of controls is in harmony with the structure of the organization. As far as possible keeping the
controls within the operating functions acts as a cost effective measure;
ii. Review of each control and analyzing them in terms of costs and benefits;
Page 628 of 705