1. RTI, Jaipur P rocedure relating to Audit of Annual Accounts Supplementary Audit under section 619(3) of the Companies Act 1956 should be conducted according to provisions of documents given in subsequent slides.

2. RTI, Jaipur P rocedure relating to Audit of Annual Accounts Provisions of the Companies Act, 1956 (on the relevant statues governing the Corporation concerned. Memorandum & Articles of Association of the Company. Instructions of the Government of India.

3. RTI, Jaipur P rocedure relating to Audit of Annual Accounts ICAI’s following pronouncements :.i Accounting Standards ii Guidance Notes & Opinions. Iii. Statements on Standard Auditing Practices (SAPs)

4. RTI, Jaipur P rocedure relating to Audit of Annual Accounts IA&AD’s Auditing Standards. INTOSA guidelines International Accounting Standards wherever ICAI’s standards/guidelines are not available.

5. RTI, Jaipur Scrutiny of Auditor’s Report Statement included in the Auditor’s Report in compliance of the Manufacturing and Other Companies (Auditor;s Report 1988) is a constituent part of the Auditor’s Report and it should be scrutinized thoroughly

6. RTI, Jaipur Meeting with Statutory Auditors Regular meeting with Statutory Auditor and management is very important. Areas of weaknesses may be enquired as identified by the pre-audit analysis.

7. RTI, Jaipur Review of Accounting Policies Auditor should critical examined the policies adopted by the companies and test them for conformity with recommendations of the ICAI’s Statement of Auditing practices

8. RTI, Jaipur Directions to Statutory Auditors Directions issued to the Statutory Auditors under section 619(3) of the Companies Act 1956 help us to ensure not only that the basic aspects in the accounts of the Auditee unit get covered by the Statutory Auditors, but also that some aspects get covered which otherwise may not be get covered in the test check during our supplementary audit

9. RTI, Jaipur Quantum of Checks Quantum of Checks will depend on: 1.Soundness of the Internal Control 2.Out past experience and familiarity with auditee unit. 3.Relative importance of audit risk

10. RTI, Jaipur Revision of Accounts In order that the reader of accounts may be gauge the extent of inaccuracy in the pre- revised accounts, accounts may be revised and impact of CAG’s observations should be disclosed in the notes on the accounts by the Company or Auditor, else a comment should be made to bring out the full impact.

11. RTI, Jaipur Timely finalisation of Audit Time schedule for finalisation of Accounts may be fixed in such a way that auditee completed in prescribed time limit.

12. RTI, Jaipur Performance of the Statutory Auditors Performance Report of Statutory Auditors should be prepared and sent to Headquarters in the prescribed proforma within the prescribed time limit.