Section 12(2) in Tamil Nadu Local Fund Audit Rules, 2016
(2)There shall be seven separate parts in the audit reports, -Part-1: containing review of annual accounts, financial statements, balance sheet and its Schedules, income and expenditure statement, receipts and charges and cash flow statements.Part-2: containing the following details of objections in receipts or revenue items : -(a)clear cases of loss of receipt shall be incorporated;(b)cases in which the amount if any received which ought to have been brought into account but not brought into account by any person;(c)cases of misappropriation of collections made; and(d)cases of any deficiency or loss of money due to short realization or non-realization of dues which appears to have been caused by the negligence or misconduct of any person.Part-3: containing the following details of objections in payment or expenditure:-(a)clear cases of excess payment shall be incorporated;(b)cases of improper utilization of funds;(c)cases of payments which appears to be contrary to the Act or rules;(d)cases of any deficiency or loss of any property, stock and the similar items; and(e)cases of avoidable expenditure.Part-4: containing the details of objections relating to grants, loans and the similar items utilized for execution of works or schemes.Part-5: containing the details of observations and objections relating to deposits and advances.Part-6: containing the details of observations and objections relating to Provident fund, contributory pension scheme and other miscellaneous funds.Part-7: containing computation of audit fees due, result of audit and details of pending objections and any other facts noticed during the course of audit which adversely affect the finances of the institution.
