Para 3.17.2 — MSO (Audit)
Original Rule Text
3.17.2 Staff appraisal reports, loan agreement, monthly account or financial statements and supporting vouchers, contracts relating to work, methods adopted for procurement, transfer entries, estimates of a work to identify any inadmissible items from the rate analysis of a particular work, quality control reports, comments of World Bank.
- Document essential for Audit certification
What This Means
For auditing World Bank-funded projects, auditors need access to several key documents. These include the staff appraisal reports, loan agreements, monthly financial statements with supporting vouchers, work contracts, procurement records, transfer entries, rate analyses of works, quality control reports, and any comments received from the World Bank.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Staff appraisal reports and loan agreements are essential audit documents
- 2Monthly accounts and financial statements with vouchers must be examined
- 3Work contracts and procurement methods require scrutiny
- 4Rate analysis helps identify inadmissible items in works
- 5Quality control reports and World Bank comments must be reviewed
Practical Example
An audit team arrives at a state irrigation department to audit a World Bank-funded canal project. They request the loan agreement, staff appraisal report, all monthly financial statements, contracts for civil works, and the rate analysis for each work item. By examining the rate analysis, they discover that the contractor has included charges for items not covered under the agreement, which they flag as inadmissible.
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 staff appraisal report in the context of World Bank projects?▼
Why are World Bank comments important for audit?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.