Para 4.3.30 — MSO (Audit)
Original Rule Text
4.3.30 It should also be seen during audit of Schedule Dockets that
(i) the sale accounts and survey reports are attached, wherever necessary; and
(ii) and that disposal of the stores and the transfers have been authorised by the competent authority in the case of credits representing sale proceeds of stores or the value of other transfers, the full value of the assets (including supervision charges or other charges leviable under rules) has been accounted for, loss, if any, has been regularised by the competent authority.
- Schedule Docket for Percentage Recoveries
What This Means
During the audit of Schedule Dockets, the auditor must check that sale accounts and survey reports are attached wherever needed. For credits representing sale proceeds or transfer value of stores, the auditor must verify that disposal was authorized by the competent authority, the full value (including supervision and other charges) has been accounted for, and any loss has been regularized by the competent authority.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Sale accounts and survey reports must be attached to Schedule Dockets where required
- 2Disposal of stores and transfers must be authorized by competent authority
- 3Full value including supervision charges must be accounted for
- 4Any loss on disposal must be regularized by the competent authority
Practical Example
A division sells old office furniture through auction. The auditor checks the Schedule Docket to verify that a survey report declaring the furniture as unserviceable is attached, the Executive Engineer authorized the disposal, the sale proceeds of Rs 45,000 include applicable supervision charges, and a loss statement of Rs 5,000 (difference from book value) was sanctioned by the competent authority.
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 survey report?▼
What does 'regularized by competent authority' mean for losses?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.