Para 7.3.13 — MSO (Audit)
Original Rule Text
7.3.13 To facilitate convenient perusal and consideration, the Commercial Audit Report of the Union Government will be prepared in separate parts. Part I should contain a brief summary of the overall working of all Government Companies, deemed Government Companies and Statutory Corporations and a synoptic statement in Form MSO (Audit)- 16. Each subsequent part should contain results of comprehensive appraisals of the selected undertakings conducted during the year by the Audit Board. The last part of the Report should contain individual irregularities noticed in the undertakings not taken up for comprehensive appraisal by the Audit Board and a resume of the points selected from the supplementary reports submitted by the Company Auditors in pursuance of the directives issued by the Comptroller and Auditor General and that of comments on the accounts of the companies issued by him under Section 619(4) of the Companies Act, 1956.
Note: Important comments on the accounts of statutory corporations may also be incorporated while dealing with the respective corporations in the relevant parts of the Report, giving reference to the Separate Audit Reports containing detailed comments on the accounts.
What This Means
The Union Government's Commercial Audit Report is divided into separate parts for easy reading. Part I provides a brief summary and synoptic statement of all Government Companies and Statutory Corporations. Subsequent parts contain the Audit Board's comprehensive appraisals of selected undertakings. The final part covers individual irregularities in non-appraised undertakings and a resume of company auditor supplementary reports and CAG's Section 619(4) comments.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Commercial Audit Report is prepared in multiple parts for convenient perusal
- 2Part I contains an overall summary and Form MSO (Audit)-16 synoptic statement
- 3Middle parts contain comprehensive appraisals of selected undertakings by the Audit Board
- 4The last part covers irregularities in non-appraised undertakings
- 5Company auditor supplementary reports and CAG Section 619(4) comments are included in the final part
Practical Example
The Commercial Audit Report for FY 2025-26 is prepared in five parts. Part I summarises the overall performance of 150 Central Government companies. Parts II through IV contain detailed appraisals of six selected companies including a steel manufacturer and an airline. Part V compiles individual irregularity paragraphs from 30 other companies not selected for full appraisal, plus key points from supplementary audit reports.
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 synoptic statement in Form MSO (Audit)-16?▼
What about important comments on statutory corporations?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.