ISLAMABAD: The Ministry of Finance has asked the Auditor General of Pakistan (AGP) to conduct a special audit of eight offices which maintain provident funds and submit an audit report to the Finance Division within two months.
The Special Secretary Finance has informed the AGP through a letter dated Sep 8 that the government has decided to conduct a special audit of provident fund maintained by Accountant General Pakistan Revenue (AGPR), Chief Accounts Officer (CAO)-MOFA, Pakistan Public Works Department (PWD), Pakistan Post Office Department, Military Accountant General (MAG), Geological Survey of Pakistan (GSP), Central Directorate of National Savings (CDNS), Pakistan Mint, and the Pakistan Railways.
Subsequently, the AGP has issued instructions in this regard to the concerned authorities to depute an audit team to conduct the special audit of provident funds of these offices.
The Ministry of Finance in a letter to the AGP also mentioned some Terms of References (TORs) for conducting the special audit.
The TORs issued by the finance ministry to carry out special audit of PF included; (i) management/record keeping including use of ERPs and calculation/disbursement of PF payment under applicable regulations, rules and procedures;(ii) loans/advances against PF and adjustment; (iii) determination of interest rates and applicability in management/disbursement; (iv) confirmation of subscription from all employees on uniform rates or otherwise; (v) receipts and payment of contribution in case of deputations, management of fund in the light of good practices of investment; (vi) ascertain the status of provident fund bond; (viii) amount transferred to deposit at the end of year under rule 34 of GPF Rules; (ix) and any other aspect appropriate by auditee.
The Ministry of Finance added that the offices of the AGPR, the CAO (MOFA), Pak PWD, the PPOD, MAG, GSP, CDNS, Pak Mint, and the Pakistan Railways, would be responsible for production of record and any response required by the audit.
Copyright Business Recorder, 2020