KANCHANJANGA VIP ENCLAVES APARTMENT OWNERS’ ASSOCIATION
As resolved and assigned by the Managing committee of KVIPEAOA, the Internal Audit of the Society’s Accounts for the Financial Year of 2020-21 has been carried out by me on the basis of the records mentioned bellow which were made available to me for the audit:
(1) Cash Book, (2) General Ledger, (3) Bank Pass Books, (4) Money Receipts, and (5) Payment Vouchers.
On the basis of the examination of the above mentioned Records furnished to me, the Internal Audit was completed, and my Observations are as follows:
All the “Receipts” to the Society Account have been accompanied by a unique MR No. (Money Receipt), and clearly entered in the Cash Book and the MR Books are kept in safe custody. However, in case of receipts towards Capital Maintenance (Corpus Fund) were not routed through Cash Book though the same were duly posted in Ledger and accounted for.
All the “Expenses” from the Society Account have been accompanied by a unique PV No. (Purchase Voucher), and clearly entered in the Cash Book and the PV Bundles are kept in safe custody.
The Members’ Monthly Contribution Ledger have been found to be neatly entered and kept up-to-date.
The Members’ Capital Maintenance (Corpus Fund) - 2020 Ledger have been found to be neatly entered and kept up-to-date.
All the Bank-Transaction Pass-Books, Bank FDRs and Cheque-Books are kept properly in the safe custody.
In our opinion and to the best of information / records /explanations furnished to us, the said accounts / records for the period conform to the true and fair view, and the internal checks & balance system is adequate. There are no cases of anomalies or misappropriation noticed as per the records furnished to us.
It was found that a Purchase Voucher Book with duplicate pages in line with the MR Books has been put to use as per our advice last year.