Para 3.11.7 — MSO

3.11.7 While reviewing the closing balances of deposits, Audit should ensure that:

(i) balances in deposit accounts have been correctly carried over from year to year and the correctness of the balance in each account at the close of the year has been acknowledged by the person or body concerned where necessary and practicable; and

Lapsed Deposits

(ii) deposits that have remained unclaimed for such period

(s) as may be prescribed by Government in this behalf and are to be credited as revenue receipts of Government have been properly adjusted to the revenue head in the accounts.