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DRDA Audit

reena jain (CA ) (247 Points)

14 December 2009

Hi Friends,

kindly enlighten me about Audit of District Rural Development Agency .

and

Recognition/Accounting of Fixed Assets in the books of DRDA ?

reena jain

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5 Replies

Jaspreet Singh (Accountant) (327 Points)
Replied 15 December 2009

DRDA audit is very simple.Firstly u have to check Central & State Govt. grants recd for every scheme like SJSY,NREGA, Indira Awas Yojana,IWDP, Member of Parliament etc.This will be verified by santion letter recd from Central/State Govt. & Bank Statement of that scheme.Now check the disbursement of that amount to different Blocks.Amount utilised by Blocks is verified from the Utilisation Certificate given by each Block.The remaining amount of Blocks is either returned back to DRDA or it will be balance with them.

For Audit of Administrative Fund,i will tell u in next coversation.BYE

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reena jain (CA ) (247 Points)
Replied 17 December 2009

Thanks a lot jaspreet

please tell me also about recognition of Fixed Assets,

someone told me that Fixed Assets are treated as Revenue items and charged to income and expenditure a/s.

reena jain

Jaspreet Singh (Accountant) (327 Points)
Replied 17 December 2009

Don't be confused.Fixed Assets r recorded in assets side of B/S.They r not treated as revenue items.Now i tell u about audit of Administrative Fund.

Admin. Fund is the DRDA own office expenses.First u have to verify the expenses by checking the expenses vouchers.Then u have to check the salary payments to employees.This will be checked by their salary register and Bank Statement becoz employees salaries r directly transfered to their personal bank accounts.Other things of audit r same.