Para 7.3.64 — MSO (Audit)
Original Rule Text
7.3.64 Audit is not precluded from including in these Reports any comments relating to the accounts of previous years, if these are important and adequate action has not been taken.
What This Means
Audit is allowed to include comments about accounts from previous years in the current separate Audit Report, as long as the issues are important and adequate corrective action has not been taken by the organization.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Comments from previous years' accounts can be included in current reports
- 2The issues must be important enough to warrant repeat mention
- 3Inclusion is justified when adequate action has not been taken on earlier audit observations
- 4This ensures persistent issues are not dropped from audit oversight
Practical Example
The separate Audit Report on a Port Trust for FY 2024-25 includes a paragraph about irregular vendor payments first flagged in FY 2022-23. Despite being highlighted twice, the Port Trust has taken no corrective action. The auditor includes it again in the current report to keep the issue before the Legislature.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Can observations from earlier years be included in the current Audit Report on autonomous bodies?▼
Why would old audit observations be repeated in a new report?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.