Financial Audit

Internal Audit

Internal audit is a continuous process that is conducted after every financial transaction, whereby the institute itself carries out the initial stage of the internal audit. The officer in chargescrutinizes and verifies the financial data which is again scrutinized by the Finance Controller, DeputyFinance Controller, and the Director for clarity, authenticity, transparency, and financial accuracy.Income/Expenditure is closely monitored by Director and the Section Officer (Accounts).The Institution has formed a Purchase Committee and a proper procedure for purchases is adopted as per government guidelines.

External Audit

1)The Institution regularly conducts Statutory Audit by Chartered Accountant every year.

2)The audit of college is conducted by govt. institution Madhya Pradesh. Local Fund audit by act 1973 rule 1974 departmental regulation 1981 in the financial year 2020-21

3) The duly audited balance sheet of college is received by Chartered Accountant in the financial year till 31.03.2022 under section 28 of M.P. govt. Registrar firms and institutions of M.P. 1959.

The Audit of the Institution was conducted in accordance with auditing standards generally accepted in India. These Standards require that the audit has to be planned and performed to obtain reasonable assurance about whether the financial statements are free from material misstatements. An audit includes examining , on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation.

Audit Report 2022-23

Audit Report 2021-22

Audit Report 2020-21

Audit Report 2019-20

Audit Report 2018-19