Para 4.3.25 — MSO (Audit)
Original Rule Text
4.3.25 In the course of audit of the Schedule of Purchases, it should be seen that the debits/credits of the current month as reflected in the list of original transfer entry orders are correct by correlating these with the original transfer entry orders attached to various schedule dockets. Schedules for the months of September and March should be accompanied by a list of items outstanding for more than six months and the adequacy of the action taken by the Divisional Officer for their adjustment should be examined. It has also to be verified that all unclaimed balances outstanding for more than three accounting years have been credited to Government.
- Schedule of Deposits
What This Means
When auditing the Schedule of Purchases, verify that the current month's debits and credits match the original transfer entry orders attached to the schedule dockets. For September and March, ensure the schedule includes items outstanding over six months and that the Divisional Officer is acting to clear them. Also confirm that unclaimed balances outstanding for more than three accounting years have been credited back to the Government.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Current month debits/credits must match original transfer entry orders
- 2September and March schedules must list items outstanding over six months
- 3Divisional Officer must take adequate action for clearing outstanding items
- 4Unclaimed balances outstanding over three years must be credited to Government
Practical Example
An auditor reviews the March Schedule of Purchases and finds a purchase order from two and a half years ago where the supplier never claimed the balance payment of Rs 1.2 lakh. Since it is approaching the three-year limit, the auditor alerts the Divisional Officer to either settle the claim or credit the unclaimed amount to the Government account before the deadline passes.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
What are transfer entry orders?▼
Why is the three-year rule important for unclaimed balances?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.