Provident Funds Of Eight Offices To Be Specially Audited By AGP

Fahad Shabbir (@FahadShabbir) Published October 08, 2020 | 12:35 PM

The office of the Auditor General of Pakistan (AGP) will carry out a special audit of eight offices' provident funds maintained by the government of Pakistan

ISLAMABAD (UrduPoint / Pakistan Point News - 8th Oct, 2020 ) :The office of the Auditor General of Pakistan (AGP) will carry out a special audit of eight offices' provident funds maintained by the government of Pakistan.

The Auditor General of Pakistan on Thursday issued instructions in this regard to the concerned authorities to depute an audit team to conduct the special audit of provident funds of these government offices, according to press statement issued by AGP here.

The office that would be audited include 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 Pakistan Railways.

The ministry of finance in a letter to the AGP also mentioned some Terms of References (TORs) for conducting the special audit.

The TORs include the management/record keeping including use of ERPs and calculation/disbursement of PF payment under applicable regulations; rules and procedures; Loans/Advances against PF and adjustment; Determination of interest rates and applicability in management/disbursement; Confirmation of subscription from all employees on uniform rates or otherwise; Receipts and payment of contribution in case of deputations; Management of fund in the light of good practices of investment; Ascertain the status of provident fund bond, amount transferred to deposit at the end of year under rule 34 of GPF Rules.

The ministry of finance added that the offices of AGPR, CAO (MOFA), Pak PWD, PPOD, MAG, GSP, CDNS, Pak Mint and Pakistan Railways, would be responsible for production of record and any response required by the Audit.

The audit report would be forwarded to the finance division within two months, the statement added.