TMI BlogREVISION OF INSTRUCTION NO. 3/2007 ON THE NEW INTERNAL AUDIT SYSTEMX X X X Extracts X X X X X X X X Extracts X X X X ..... also quality coverage of internal audit have been a matter of serious concern. The Public Accounts Committee has also commented adversely on the present state of affairs and directed proper monitoring mechanism for desired improvement. 1.2 In order to streamline the system, it has been decided to strengthen roles of supervisory authorities as detailed below: 2.1 Role of CCIT (CCA): The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng auditing officer as given in para 7.6 of the Instruction No 9 of 2006 , with CIT (Audit) being the CIT concerned in whose charge the mistake had occurred, has been taken. 2.2 Role of Jurisdictional CCIT/DGIT: The CCIT/DGIT shall also (i) Review the performance of settlement of Audit objections of his region, including reconciliation of pendency reported by the CIT (Audit) the CIT (Admn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in terms of para VII of the Instruction suitable actions against defaulting officers/staff within 15 days of the end of the quarter. 3.1 Role of CsIT (Audit): The CsIT (Audit) shall also- (i) Hold a monthly meeting with each of the Administrative Commissioners to review the progress in settlement of objections (ii) Furnish statement in Annexure-I as per his records to each jurisdiction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cer in accordance with the procedure as given in in para 7.6 of the Instruction No 9 of 2006 with CIT'(Audit) being the Cll concerned, in whose charge the mistake had occurred 3.2 Role of Additional CsIT (Audit): The Addl/Jt CsIT (Audit) shall also, vet each objection involving tax effect of Rs 1 crore and more less than Rs.10 crore. proposed to be raised by ITO (IAP) before the objection ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his will apply to all pending objections reports shall be revised for quarter ending December, 2013. 5. The Instruction No 3 of 2007 is amended and supplemented with effect from October 28, 2013 to the extent indicated above. 6. This may be brought to notice of all officers working under your jurisdiction for compliance. [F.NO. 246/94/2013-A PAC.1] Annexure - I - Circular - T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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