Section 17 in The Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018
17. Maintenance of books of account and audit of accounts.
(1)The following books of accounts shall be kept by the point of presence in respect of its activities:-(a)details of applications received and submitted to the central record keeping agency for registration and Permanent Retirement Account Number data generated for all such applicants;(b)details of money received from the subscribers - in cash, by cheque, or any authorized form of remittance;(c)details of cash held on a daily basis;(d)details of subscriber-wise money remitted to the Trustee Bank;(e)details of subscriber-wise instructions sent to the central record keeping agency.(2)The point of presence shall follow the Segmental Method of Accounting (under the relevant accounting standards), and the same shall be audited as specified/directed by the Authority. The format and scope of such an audit shall be in conformity with the notifications, guidelines, circular etc. issued by Authority from time to time. The Audit certificate shall be submitted to the Authority as soon as practicable upon finalisation of books of accounts of such point of presence, but not later than ninety days from the date of such finalization.
