Para 4.3.29 — MSO (Audit)
Original Rule Text
4.3.29 All transfer entry debits/credits in the Schedule Dockets should be checked in audit with the relevant transfer entries to ensure correctness of the charge/credit. It should be verified that necessary particulars of all cash refunds are available and that they do not indicate any financial irregularity; these cash refunds should also be tallied with the “Memo of Miscellaneous Cash Receipts paid into Treasuries” in Form 80.
What This Means
All transfer entry debits and credits appearing in the Schedule Dockets must be verified against the original transfer entries to ensure correctness. The auditor must also check that cash refund details are complete and do not indicate any financial irregularity. These cash refunds should be cross-checked with the Memo of Miscellaneous Cash Receipts in Form 80.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Transfer entry debits/credits in Schedule Dockets must match original transfer entries
- 2Cash refund particulars must be complete and free of financial irregularity
- 3Cash refunds must be tallied with the Memo of Miscellaneous Cash Receipts in Form 80
- 4This check ensures both accuracy of transfers and legitimacy of refunds
Practical Example
An auditor reviewing the Schedule Dockets for January finds a transfer entry credit of Rs 2 lakh. They locate the original transfer entry order and confirm the amount and account head are correct. They also find a cash refund of Rs 15,000 and verify its details in Form 80, confirming it was a legitimate refund for an overpayment on a contract.
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 Schedule Docket?▼
Why must cash refunds be specifically scrutinized?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.