Para 2.6.24 — MSO

Examination of systems and procedures 2.6.24 It is necessary to examine whether appropriate and adequate systems and procedures are in place for:

(i) proper accounting of receipts, expenditure and assets;

(ii) monitoring of unrealized revenues and undischarged liabilities;

(iii) general control over expenditure;

(iv) sanctions to expenditure, remission of revenues and transfer/disposal of assets;

(v) safe custody of cash, stores and other assets; and

(vi) purchases and conclusion of contracts.