Engagement of
Chartered Accountants for Internal Audit
1. Post Name: Chartered Accountants
2. The scope of work is stated below :
While discharging audit function, the Internal Auditor would generally ensure the following :
a) Compliance with Govt. rules and Internal Governance procedures wherever applicable.
b) Effectiveness of internal controlsystem
3. Scope Of Work:
Pre-audit of certain specified transactions on case to case basis restricted to compliance vis-a-vis processes and procedures. The pre-audit of following areas may be covered by the Internal Audit :
(i) Pre-audit of civil construction/maintenance jobs awarded by the Institute.
(ii) Pre-audit of payments to employees leaving the institute either on retirement orotherwise.
(iii) Pre-audit of proposals for purchasing capital goods and issuance of purchase orders for purchasing capital goods for value equal to or more than Rs. 5lakh.
(iv) Pre-audit of proposals for any other payment as may be decided by theinstitute.
4. The items to be covered under transaction audit are given below. The Firm would provide a suitable softwaremodule tothiseffect & train the employees.
(i) Scrutiny of Cash and BankBook.
(ii) ScrutinyofGeneralLedgerandSubsidiaryLedger.
(iii) VerificationofBankReconciliationStatements.
(iv) Physicalverificationofcashinhandandchequesinhand.
(v) Verification of Service TaxReconciliation.
(vi) Verification of TDStransactions.
(vii) Verification of investment of various funds ((including Corpus and P.F.).
5. Finalisation:
Audit of half-yearly and Annual Final Accounts and Provident Fund account before submissionto the Board.
i. Audit of Half yearlyAccounts.
ii. Audit of AnnualAccounts.
iii. Audit of Provident Funds Accounts(Yearly)
6. Auditreport:
Submission of (i) Quarterly Internal AuditReport
(ii) AuditReportonHalf-YearlyAccounts
(iii) AuditReportonYearlyAccounts(including ProvidentFunds) IIIT, Kalyaniintends to have twotrained manpower from the Firm on regular basisin thecampus.
