Para 3.12.3 — MSO (Audit)
Original Rule Text
3.12.3 The following are some of the important source documents to be checked by Audit:
(i) Paid vouchers.
(ii) Ledger Accounts.
(iii) Recovery Schedules.
(iv) Sanctions to withdrawals from the Fund.
(v) Broadsheets.
(vi) Index Registers.
(vii) Applications for enrolment.
(viii) Register of missing credits/debits.
(ix) Register of unposted credits/debits.
# Audit Approach
What This Means
This paragraph lists the key source documents that auditors must examine when auditing Provident Fund accounts. These include paid vouchers, subscriber ledger accounts, recovery schedules, withdrawal sanctions, broadsheets, index registers, enrolment applications, and registers tracking missing and unposted credits or debits.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Paid vouchers and ledger accounts are primary audit documents
- 2Recovery schedules show monthly deductions from salary
- 3Sanctions to withdrawals must be verified against rules
- 4Broadsheets and index registers are used for cross-checking
- 5Registers of missing and unposted credits/debits must be examined
Practical Example
An audit party begins reviewing GPF accounts in a department. They collect the subscriber ledger accounts, match them against recovery schedules to ensure monthly deductions were properly posted, verify withdrawal vouchers against sanctions, and check the register of missing credits to ensure all salary deductions reached the fund accounts.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
What is a recovery schedule in Provident Fund audit?▼
Why is the register of missing credits important?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.