Para 2.4.3 — MSO

Key areas of audit scrutiny Audit of purchase of stores

Audit Objectives and Scope 2.4.3 The stores and stock accounts form part of the initial and subsidiary accounts of the departments and audit thereof is consequently conducted locally. The audit of the accounts of the stores and stock shall be directed towards ascertaining that the departmental regulations governing purchase, receipt and issue, custody, condemnation, sale and stock verification of stores are well devised and implemented. Audit should bring to the notice of the Government any important deficiencies in quantities of stores held or any grave defects in the system of control.