1. Date 30.10.2012 By O. P. Mishra JEPC, Ranchi

2.  Test audit by AG conducted till FY 2010-11  State finance audit on regular basis  Review audit by IPAI  Annual statutory audit by CA  Quarterly internal audit  Periodical review by JRM  Social audit of VECs  Internal check. control & monitoring by immediate seniors  Review as and when desired by C&AG

3.  Twelve CA firms appointed for audit including one CA as lead auditor  General auditors undertake the audit of district accounts  Lead auditor performs the audit of SPO and compiles the accounts of state as whole covering :  1 unit of SPO  24 units of DPOs  260 units of BRCs  203 units of KGBVs  1/3 VECs getting more than Rs. One Lac in a year

4.  Audited accounts with report is prepared at KGBV,BLO,DLO & SPO stand alone at all levels and consolidated at district and state as a whole representing :  Balance Sheet  Income & Expenditure  Receipt & Payment  Asset/Liabilities & Expenditure schedule  Procurement audit report  VECs audit position  Splited & consolidated utilization certificates  Auditors report on Audited Accounts along with Management letter

5.  Time taking (Total coverage of 493 units)  Training/organizing to all related functionaries  Preparation of 260 BRC,203 KGBV,24 DLO and SPO stand alone audited accounts  Consolidation of all above at 24 DLO and then state as a whole  Misconception of consolidation of accounts among DLO/BLO accounts personnels  Distance coverage & locational problem  More complicated work needs extra care

6.  Representing actual fund status at SPO/DPO/BRC& KGBV level  Awareness among functionaries  Rs. 133 crore unspent free cash identified during first time audit of BRC which was earlier reported as expenditure  Penitration of fund flow monitoring  Strengthening of BLO sensitizing the staff of their importance/role  DPO started monthly accounts RPM of BRC/KGBV for tracking of fund flow

7.  Financial data up to BRC/KGBV are now based on actual expenditure against bills  No threat of submission of over/under utilization  Downward fund flow system from SPO-DPO- BRC-KBV-VEC  Changed reporting system up to BRC level  Now reported expenditure is only for VECs releases  Fund flow up to BRC/KGBV is now treated as releases not expenditure  Though the system minimizes performance but represents clear picture

8.  Beyond reach BRS in RTGS/NEFT transaction  Facts and financial figures of VECs  Utilization/adjustment of advances on account of VECs  Appointment of accounts personnels including accountants for schools  Frequent tern-over of contractual employees  Online monitoring of fund flow from SPO to VECs with expenditure details  Reconciliation of Bank balances as per CPSMS data with that of reported balances  Electronic accounting system up to VEC level