Chapter-23 INTERNAL AUDIT OF VIDYALAYA ACCOUNTS Article Proposed Modification Remarks No. 220 The Internal Audit Branch of the Sangathan which is responsible for the internal audit of its accounts at the Vidyalaya and Regional Office levels. It operates both from the Headquarters office and Regional Offices and functions under the overall supervision of Joint Commissioner (Finance). Scope of Internal Audit 221. The main object of the internal audit inspection of various Kendriya Vidyalayas is to examine the correctness and accuracy of the accounts maintained and rendered by them. This is in addition to the Statutory audit conducted by the Audit Inspection Parties of the Director General of Audit/Accountant General. 222 The primary duty of the Finance Officer is to assist the Kendriya Vidyalayas in avoidance of financial irregularities. He is required for this purpose to see that. (i) Accounts maintained truly represent facts; (ii) That the rules and orders on the subject framed by the Competent Authorities have been followed by the school authorities in the spirit in which they have been framed; (iii) That the expenditure is regular and bonafide; (iv) That the claims are correctly prepared, proper records are kept of initial transactions, bills are entertained according to rules and regulations and properly classified accounts have been kept; (v) That the prescribed procedure for maintaining the accounts, service records and registers are being followed properly and efficiently. (vi) The Finance Officer should not only find out mistakes, but also to suggest remedial measure. He should try to educate the staff concerned schools office inspected. (vii) The Internal Audit Inspection has to consider the detection of fraud as one of its duties. (viii) The Finance Officer is expected to review the position in respect of outstanding objections in the inspection reports of the Statutory Auditors etc. and offer on the spot guidance for getting them settled. (ix) Investigative Audit/Special Audit can be conducted with the approval of KVS (Hq.). Nature of Checks :- 223. The various records relating to accounts which come under the purview of Internal Audit local checking at a school are broadly classified as under :- 1. Cash Book 2. Ledger Accounts 3. Bank-reconciliation
Chapter-23 INTERNAL AUDIT OF VIDYALAYA ACCOUNTS Article No. Proposed Modification Remarks 220 The Internal Audit Branch of the Sangathan which is responsible for the internal audit of its accounts at the Vidyalaya and Regional Office levels. It operates both from the Headquarters office and Regional Offices and functions under the overall supervision of Joint Commissioner (Finance). Scope of Internal Audit 221. The main object of the internal audit inspection of various Kendriya Vidyalayas is to examine the correctness and accuracy of the accounts maintained and rendered by them. This is in addition to the Statutory audit conducted by the Audit Inspection Parties of the Director General of Audit/Accountant General. 222 The primary duty of the Finance Officer is to assist the Kendriya Vidyalayas in avoidance of financial irregularities. He is required for this purpose to see that. (i) Accounts maintained truly represent facts; (ii) That the rules and orders on the subject framed by the Competent Authorities have been followed by the school authorities in the spirit in which they have been framed; (iii) That the expenditure is regular and bonafide; (iv) That the claims are correctly prepared, proper records are kept of initial transactions, bills are entertained according to rules and regulations and properly classified accounts have been kept; (v) That the prescribed procedure for maintaining the accounts, service records and registers are being followed properly and efficiently. (vi) The Finance Officer should not only find out mistakes, but also to suggest remedial measure. He should try to educate the staff concerned schools office inspected. (vii) The Internal Audit Inspection has to consider the detection of fraud as one of its duties. (viii) The Finance Officer is expected to review the position in respect of outstanding objections in the inspection reports of the Statutory Auditors etc. and offer on the spot guidance for getting them settled. (ix) Investigative Audit/Special Audit can be conducted with the approval of KVS (Hq.). Nature of Checks :- 223. The various records relating to accounts which come under the purview of Internal Audit local checking at a school are broadly classified as under :- 1. Cash Book 2. Ledger Accounts 3. Bank-reconciliation