Regulation 132 — Audit Regulations 2020
Original Rule Text
132. Meeting with Officer in charge of the auditable entity at the commencement of audit
The audit team leader/supervisory officer shall hold a meeting with the Officer in charge as soon as the work of audit commences. In the meeting, the
Regulations on Audit and Accounts 2020 70
audit objectives and criteria, general state of internal controls and areas of focus, concern or high risk identified by Audit may be discussed. A written record of the proceedings of the meeting duly signed by both the parties may be kept. In case a meeting cannot be held, the same shall be recorded.
What This Means
As soon as audit work begins, the audit team leader or supervisory officer must hold an entry meeting with the head of the audited office. This meeting should cover audit objectives, criteria, the state of internal controls, and areas of focus or high risk identified by audit. Minutes should be recorded and signed by both parties. If a meeting cannot be held, this fact must also be documented.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Mandatory entry meeting between audit team leader and head of the audited office
- 2Must be held as soon as audit work commences
- 3Discusses: audit objectives, criteria, internal controls, focus areas, and high-risk areas
- 4Written minutes should be prepared and signed by both parties
- 5If meeting cannot be held, the reason must be recorded
- 6Sets the tone for a professional and transparent audit engagement
Practical Example
The audit team leader conducting a compliance audit of the Directorate of Education, Delhi holds an entry meeting with the Director on the first day. They discuss that the audit will focus on grant utilization and teacher recruitment compliance for 2024-2025. The Director flags recent changes in recruitment rules. Minutes are prepared, signed by both, and retained in the audit file.
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 entry meeting important?▼
What if the head of the office refuses to attend?▼
Can the entry meeting change the audit scope?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.