Examples of Audit Party in a sentence
In case any column of the Audit report is kept blank, it will constitute non-checking on the related point by the Audit Party and action shall be taken accordingly.
The Audit Party should make a copy of Audit Report of the format before preparation of report.
Where the observations raised by the Audit Party is not found correct or the amount pointed out is not found recoverable, the half margin should be returned to the Audit Party after recording the detailed reply/justifying the reasons and quoting the instructions under which the half margin is not accepted.
An Internal Audit Party will conduct a general review of all the accounts records maintained by an office since the last inspection or in case of new units since the formation of that office, Apart from the general review, it should also conduct a detailed check of accounts records of two months, which will include March, August & September of every year.
The Audit report has been designed in such a way that all the information on the audit conducted by the Audit Party is reported to headquarter.
On receipt of the Audit Report from the Audit Party the same shall be scrutinized at the Headquarter and the report of findings relating to the office audited will be prepared.
The actual cash in hand with the cash balances of the Cash Book shall be checked on the 1st day of visit by the incharge of the Audit Party.
Immediately after the tour programme of a party is approved, the intimation shall be given to the auditee office with a request to make proper sitting arrangements for the Audit Party and arrange to produce all the records relating to the period of audit.
The ultimate aim of every Audit Party should be to educate the Auditee office staff in such a manner as to improve the standard of efficiency of their accounts so that in due course of time it should be possible for the audit party to state in their report that the accounts have been audited and every thing has been found correct and in order.
Occasional checking of cash during the visit shall also be conducted by the incharge of the Audit Party.