Para 7.3.15 — MSO (Audit)
Original Rule Text
7.3.15 This chapter is intended to provide a general overview of the functioning of all government companies and statutory corporations and should contain relevant statistical data about the investment, state of accounts, etc. of the companies and corporations. It should include, inter alia, paragraphs relating to investments made by Government in various companies and corporations and the guarantees given on their behalf. The summary of the overall working results should also include a synoptic statement in Form MSO (Audit)-16.
- Chapter–II
What This Means
Chapter I of the State Commercial Audit Report provides a general overview of all government companies and statutory corporations. It includes statistical data on investments, the state of accounts, guarantees given by the government, and an overall summary of working results. A synoptic statement in Form MSO (Audit)-16 is also included to present key financial data in a standardised format.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Chapter I is an overview chapter covering all government companies and statutory corporations
- 2Includes statistical data on investments, accounts status, and government guarantees
- 3Overall working results are summarised for the reader
- 4A synoptic statement in Form MSO (Audit)-16 is mandatory
- 5Provides a 'big picture' before the detailed reviews in subsequent chapters
Practical Example
In Chapter I of the State Commercial Audit Report, the AG presents that the State Government's total investment in 30 companies stood at Rs 5,200 crore, guarantees given were Rs 1,800 crore, 22 companies were in profit while 8 were loss-making, and 5 companies had not finalised their accounts for the past two years. The synoptic statement in Form MSO (Audit)-16 tabulates company-wise investment, turnover, and profit/loss data.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Why is the overview chapter placed first?▼
What kind of investment data is included?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.