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| Citizens Coop Bank | | Previous audit failed to pick up as log books not produced | |
Jammu | Apr 2
Citizens Cooperative Bank (CCB) has allegedly not followed any procedure to properly maintain the vehicle log books as the District Audit Officers (DAOs) found the log books trend less coupled with countless errors. Meanwhile, in the event of customary lapse the audit team was directed on spot to thoroughly check up the petrol accounts and see that the bank complies with the advice to update this record and also to work out the shortfalls.
According to sources, the perusal of vehicle log books by the District Audit Officers (DAOs) during the test check on the Annual Audit Report of CCB for the year 2003-04 revealed several irregularities. These include non-description of journey performed in maximum cases, non-reflection of Petrol consumption together with the balance stock in the log books and the officers undertaking visits have not signed the log book.
Taking strong note of the above mentioned laxities, DAOs sought clarification regarding the mode and criteria for issuance of Petrol slips, progress in the assessment of Petrol consumption before issuance of fresh slip, justification of issuance of fresh stock in the absence of entry of filled and consumed Petrol and the incompletion of basic record and subsequent non-attention of the MD towards it..
In response to the above queries, MD replied that members representing the management were not signing the log books as per past practice which continued unhampered. In respect to the incomplete records such things were never pointed out in the past by the audit but nevertheless the same has been noted for future compliance, he added. He finally MD stated that as per discussions with the present audit team the bank has now introduced these practices.
It may be mentioned here that the log books of the several official vehicles between the mentioned periods were examined on the spot by the DAOs and found absence of details of journey mentioned and non reflection of oil filled, oil consumed and balance stocks in the log books. Even the officials using the vehicle didn’t sign the log book. The above laxities were also discussed with the MD, but he was on his feet to state that he would not engage his highly paid officers for issuing petty slips on Petrol and to check such small sized irregularities, which hardly matter in the institutions like his bank.
Following the observations, the DAO’s drew inferences that no procedure was followed by the CCB management to properly maintain the log books. The previous audit did not point out such irregularities in the past due to the fact that the log books were not produced to the audit and the observation pertaining to the same find mention in the respective reports. In the event of prevailing lapse the audit team was directed on spot to thoroughly check up the Petrol accounts and see that the bank complies with the advice to update this record and also to work out the shortfalls.
It is to mention that pursuant to the instructions issued by the Registrar Audit Cooperatives Societies J&K, DAOs were required to conduct test check of at least 25% of the audited part. The same was taken up at the CCB in April, 2006 and the exercise was based on the Annual Audit Report and the subsequent audit observations issued on the accounts of the bank for the year 2003-04.
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