Para 3.17.20 — MSO (Audit)
Original Rule Text
3.17.20 Observance of all the above conditions can be scrutinised and suitably commented upon by the local audit party, and the amount objected on any of the above conditions can be objected by Accountant General (Audit) for certification of Statement of Expenditure (SOE) for the sake of reimbursement.
What This Means
The local audit party can examine whether all the conditions related to World Bank loan expenditure have been followed. If any condition is violated, the Accountant General (Audit) can raise an objection against that amount when certifying the Statement of Expenditure (SOE) for reimbursement from the Bank.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Local audit parties scrutinize compliance with all loan conditions
- 2Non-compliance can be commented upon by the audit party
- 3Accountant General (Audit) can object to ineligible amounts
- 4Objections affect the certification of Statement of Expenditure
- 5This directly impacts reimbursement claims from the World Bank
Practical Example
During local audit of a World Bank-funded education project, the audit party discovers that the implementing agency procured computers from a vendor who was not pre-qualified as per loan agreement norms. The audit party reports this, and the AG (Audit) objects to the entire procurement amount of Rs. 2 crore in the SOE certification, preventing its reimbursement from the Bank.
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 the Statement of Expenditure (SOE)?▼
Can the implementing agency contest an audit objection?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.