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 NFRA issues Draft Procedure for Submission of Audit Files
 Auditors barred from putting a value on companies they are auditing
 Standard on Internal Audit (SIA) 18, Related Parties
 Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit
 Standard on Internal Audit (SIA) 16, Using the Work of an Expert
 Standard on Internal Audit (SIA) 14, Internal Audit in an Information Technology Environment
 Standard on Internal Audit (SIA) 13, Enterprise Risk Management
 Standard on Internal Audit (SIA) 12, Internal Control Evaluation
 Standard on Internal Audit (SIA) 11, Consideration of Fraud in an Internal Audit
  Standard on Internal Audit (SIA) 9, Communication with Management
  Standard on Internal Audit (SIA) 8, Terms of Internal Audit Engagement

Internal Audit intoduced by MCD planes
December, 09th 2010

To ensure transparency and efficiency in works being undertaken by it, the MCD is planning to introduce an internal auditing system.

Outlining the plan while presenting MCD budget proposals for 2011-12 at a meeting of the Standing Committee of the civic body, Municipal Commissioner K S Mehra said this system will run along with the independent auditing mechanism.

"Independent auditing is already being done. Along with this, all schemes will be audited internally and reports given so that problems could be resolved, shortcomings addressed and transparency and efficiency achieved," he said.

The MCD also plans to introduce Central government- approved accrual accounting system for better financial management, he said adding, the corporation wants to be a member of Government Accounting Standards Advisory Board set up by the Centre for giving shape to it.

Mehra also said the MCD has shortlisted 33 wards for preparing "local area plans" as per the provisions of Master Plan for Delhi-2021. Government agencies have been appointed as consultant for this while a monitoring team of senior officials has also been set up.

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