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Draft Inspection Report on the accounts of the National Institute of Technology (NIT),
Aizawl, Mizoram from 0!0"!#0$ to $!0$!#0"
%art I
! Intro&uctory'
A test audit on the accounts of the National Institute of Technology, Aizawl, Mizoram
from 01.04.201 to 1.0.2014 was conducted !y an audit team from the office of the
"rinci#al Accountant $eneral, Mizoram, Aizawl from 0%.10.2014 to 22.10.2014.
#! Incumency'
The following officers held the charge of the head and the &rawing and &is!ursing
'fficer of the National Institute of Technology, Aizawl, during the #eriod mentioned againsttheir names(
Name of the ea& Designation %erio&
"rof. ). * +ay &irector 02.12.11 till date
Name of the DD* Designation %erio&
Ms. -althianghlimi ote &y. +egistrar 01.04.1 12.12.1
"rof. M. /. ingh +egistrar 1.12.1 0.0.14
Ms. -althianghlimi ote &y. +egistrar 0%.0.14 till date
$! Allotment of fun&s an& e+pen&iture there against &uring #0#$'
(Rs. in lakh)
-ear
Allotment of .un& /+pen&iture /+cess
()1
2a3ings
()%lan
Non
%lanIR4 Total %lan
Non
%lanIR4 Total
20114 1200.00 22.0% 142.0% 340.42 340.42 5 11.
I+$ Internal +e6enue $enerated5
"! Re3iew of outstan&ing Au&it *ser3ation'
Nil
5! Disclaimer 2tatement'
The Ins#ection +e#ort has !een #re#ared on the !asis of information furnished and made
a6aila!le !y the &irector, National Institute of Technology, Aizawl, Mizoram. The office of
the "rinci#al Accountant $eneral, Mizoram, Aizawl disclaims any res#onsi!ility for anymisinformation and or noninformation on the #art of the auditee.
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%ara #' Discrepancies in the figures oo=e& in the Annual Accounts #0$"
crutiny of the records of National Institute of Technology NIT5, Mizoram, Aizawl re6ealed
the following discre#ancies(
1. An e?#enditure of +s.,% +s.100 @ +s.,%5 was incurred for !an; chargesagainst two !an; accounts N" account and 7ee account 5 during the year 20114.
was !oo;ed under 7urniture = 7i?tures ID :?#enditure on 7i?ed
Assets = *a#ital Bor;in"rogress5. "age No. 35 reflects
+s.>%,4,> under 7i?ed Assets which resulted in o6erstatement of +s.0,00,000+s.>%,4,> +s.%,4,>5.
The Institute stated, in its re#ly, that +s.0,00,000 had !een added to the 7urniture =
7i?ture to adEust the wrong !oo;ing understatement5 in the last 7inancial Cear.
. As #er chedule > "age No. 35 an amount of +s.0,00,000 was shown as deduction
from 7i?ed Assets 'ffice :Fui#ments amounting to +s. 1,,>,% without any
e?#lanation9reason. 3 +s.13,>,> H
>9%. +s.13,>,>5. 7urther, rate of de#reciation to !e calculated on -a!oratory
:Fui#ments was reflected at 10G in the list of de#reciation on 7i?ed Assets "age
No.25.
The Institute re#lied that de#reciation on -a! eFui#ments would !e calculated at the
rate of >G in future and de#reciation at the rate of 10G reflected in "age No.2 was
Eust a ty#ing mista;e.
%ara $' ;an= Interest oser3ations thereof
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crutiny of records of the National Institute of Technology NIT5, Mizoram, Aizawl re6ealed
that the Institute earned an amount of +s. 1,00,4>,%%1 as on 1stMarch 20145 as a !an;
interest from three interest!earing !an; accounts and 7i?ed &e#osits during 20114 as
detailed !elow(
2l!
No
!
;an= Name Account No! Amount =ept
in an=
Interest
earne&
Remar=s1
purpose
1 8I 2331323 2,4,3,02 40,0>,3 7ees
2 8I 2331301 13,0,>2 23,420 N"
8I %44%>> 1,2,34,04 Nil '#ened on
23.0.14
2utotal $,75,7:,88 ",$0,$5
4 I&8I, 8I =
DiEaya !an;
undry a9c 2,%4,>3,2%> 3,1>,4J 7i?ed &e#osit
4ran& Total $:,90,85,":: ,00,"8,99
(* Detailed in Annexure- I)
7ollowing o!ser6ations ha6e !een made in this regard(
1. As it can !e seen from the a!o6e ta!le that total !an; interest earned !y the
Institute as on 1stMarch 2014 was +s. 1,00,4>,%%1. 0
which resulted in o6erstatement of +s. 3,24 +s. 3,2%,3>0 +s. 3,1>,45.
. It can !e seen from the a!o6e ta!le that an amount of +s. 4,0,1was earned as
!an; interest from two sa6ing accounts !y ;ee#ing +s. ,3,3,1>> which was
collected as N" or 7ee during 20114.
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1. As #er +ule 1 of +ecei#t and "ayment +ule, the *ash!oo; should !e closed
regularly and com#letely chec;ed. The
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1 %
%
2%.0.2014 2,>>% 0,000 %11 0,000
Total #8,95,557 $9,75,900 7,#0," $9,75,900
It is e6ident that the !alance amount of +s. 3,20,141 +s. %,3,%00 +s. 2>,%,35, ifrefunded, should !e entered as recei#t in the +ecei#t side of the *ash!oo;.
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crutiny of Annual Accounts for 20121 = 20114 of the National Institute of Technology
NIT5, Mizoram re6ealed that an amount of +s. 41,33,343 was collected as contri!utions !oth
from Institute and em#loyees since ince#tionAugust 20115 to March 2014 as detailed !elow(
-ear Institute contriution(in Rs!)
/mployeecontriution (in Rs!)
Total contriution(in Rs!)
201112 ,30,1
20121 12,1,2 12,1,2
20114 3,,4 1,42,13 2,3,2
Total 7,5$,":: #8,55,8## ",77,7"7
7ollowing o!ser6ations ha6e !een made in this regard(
1. All N" deductions as mentioned a!o6e were not remitted to trustee !an; and *7s
u!scri!er *ontri!ution 7iles5 could not !e u#loaded with N"*AN till the end ofMarch 2014 des#ite reminder !y the Ministry of
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%. As #er "ara 2.24 of Ta?manns Accounting ,01,>0% and 7i?ed &e#osits+s.%,0,00,0005 at the !eginning of the 7inancial Cear 20114. 7urther, the &irector,
National Institute of Technology, Mizoram su!mitted to the M
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Asstt! Au&it *fficer 2r! Au&it *fficer 1 *!A! (?) D!A!4!
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