Para 4.3.20 — MSO (Audit)
Original Rule Text
4.3.20 Credit entries in the Schedule should be compared with the details given in the Memo of Cash Receipts on the reverse of the Monthly Account (Form 80).
What This Means
The credit entries listed in the Schedule should be cross-checked against the details provided in the Memo of Cash Receipts, which appears on the back side of the Monthly Account (Form 80). This ensures that all cash received and credited matches the official record of receipts.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Credit entries in the Schedule must be compared with the Memo of Cash Receipts
- 2The Memo of Cash Receipts is on the reverse of the Monthly Account (Form 80)
- 3This cross-check ensures accuracy and prevents fictitious credits
- 4Any discrepancy between the two must be investigated
Practical Example
An auditor reviewing a division's monthly schedule finds a credit entry of Rs 50,000 for rent recovered. They flip to the reverse side of Form 80 to verify that the Memo of Cash Receipts also shows Rs 50,000 received as rent. If there is a mismatch, the auditor flags it as a discrepancy for investigation.
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 Form 80?▼
Why is this comparison important?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.