information about them is accurate. Check for a sample of expenditures (identified in General Ledger) that they have been recorded correctly in the Fixed Assets Ledger and that they are on site, according to location information in Ledger, and that they are operational and being used. For any items still in storage, or non-commissioned, determine reasons for non-functional state. For any assets not delivered, determine why payment was made before delivery. (May need to follow-up on contract arrangements.) {DFR Chapter-6, Rule 6.17, 6.28 & 6.30} Fixed Assets Addition (Purchases) Check for a sample of additions that: Budget was approved for the particular purchase. Purchase Indent is approved by the competent authority. Tendering process was done in accordance with Punjab Procurement Rules 2009 (PPR-2009). Purchase Order generated in favour of selected/approved supplier. For the sample of purchased items during period audited, check that the cost listed in the Fixed Assets Register is the same as the purchase price (including cost of installation & commissioning) and check against supporting documentation. {Chapter-V, VI & VII of PPR 2009} Transfer in For items transferred in, check whether any transfer payments were made and if so whether for an appropriate amount. Check that any donation/gift of fixed asset received, met the requirements of the Accounting Policies and Procedures Manual- APPM {Para-13.4.3- Donations/gifts of fixed assets}.
information about them is accurate. Check for a sample of expenditures (identified in General Ledger) that they have been recorded correctly in the Fixed Assets Ledger and that they are on site, according to location information in Ledger, and that they are operational and being used. For any items still in storage, or non-commissioned, determine reasons for non-functional state. For any assets not delivered, determine why payment was made before delivery. (May need to follow-up on contract arrangements.) {DFR Chapter-6, Rule 6.17, 6.28 & 6.30} Fixed Assets Addition (Purchases) Check for a sample of additions that: Budget was approved for the particular purchase. Purchase Indent is approved by the competent authority. Tendering process was done in accordance with Punjab Procurement Rules 2009 (PPR-2009). Purchase Order generated in favour of selected/approved supplier. For the sample of purchased items during period audited, check that the cost listed in the Fixed Assets Register is the same as the purchase price (including cost of installation & commissioning) and check against supporting documentation. {Chapter-V, VI & VII of PPR 2009} Transfer in For items transferred in, check whether any transfer payments were made and if so whether for an appropriate amount. Check that any donation/gift of fixed asset received, met the requirements of the Accounting Policies and Procedures Manual- APPM {Para-13.4.3- Donations/gifts of fixed assets}.
PT&T%20Audit%20Guidleines%20Final%20APSS%20track%20changes.docx