Para 17.2.2 — CAM

17.2.2 IA shall also check the initial accounts maintained in the executive offices to ascertain the extent of compliance to the rules and regulations, system and procedures etc. in the accounting and financial matters. The scrutiny would cover checking of all accounting records including those relating to fund accounts, loans and advances, disposal of confiscated stores (in CBEC), review of the installation and operating efficiency of expensive equipment and machinery and examination of records relating to physical verification of stores, equipment, tools and plant. IA will specifically look at the risks in the process, IT systems, payments and delivery of goods and services and suggest remedial measures. The accounts of all grantee Institutions or Organizations shall be open to inspection by the sanctioning authority and audit, both by the Comptroller and Auditor General of India under the provision of CAG (DPC) Act 1971 and IA by the Principal Accounts Office of the Ministry or Department, whenever the Institution or Organization is called upon to do so and a provision to this effect should invariably be incorporated in all orders sanctioning grants in aid. The IA Wing shall also draw up specific risk matrices for each audit task under areas such as compliance risk, financial risk, legal risks etc., as applicable. The schemes of a Ministry / Department would be audited for their effective implementation in terms of the scheme guidelines and various MoF rules and orders issued from time to time.