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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

Civic body implements Audit report
January, 18th 2011

The Municipal Corporation of Delhi (MCD) has implemented its annual internal audit report to carry out effective and efficient financial management of its limited resources.

The announcement was made by municipal commissioner KS Mehra on Monday. This would help bring a professional financial management culture in MCD, which has a budget of around R6,000 crore. It would ensure much-needed efficiency and effectiveness in public expenditure, he added.

Mehra also mentioned the civic bodys plans to introduce an Annual Internal Audit Report in his budget speech in the Standing Committee of MCD on December 8, 2010, to introduce more accountability and transparency.

Meanwhile, MCD continued its drive against unauthorised constructions. On Monday, it sealed two floors of a property and demolished illegal portions of 13 properties in Najafgarh zone, among others.

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