CONTAINER CORPORATION OF INDIA LTD.

KKU-JAIPUR
INTERNAL AUDIT REPORT FOR THE QUARTER
MARCH - 2009
INTERNAL AUDIT REPORT FOR THE QUARTER ENDING MARCH, 2009
ICD KKU - JAIPUR
1 REVIEW OF SSTEMS
During the course of audit, we have observed that the financial & operating systems being
followed in the unit have been reviewed and found in order to the Internal Checks and
control except in the few cases of deviations which have been reported in our observations.
2. REVENUE
a) e have checked revenue for various !obs like "reight #including ha$ardous cargo
surcharge), handling transportations, stuffing, destuffing, ground% rent, wharfage and
demurrage. During the course of audit are given as per A!!"#$%" &''&()"*.
b) &here is no overseas Income in units, hence no comments.
c) arehouse record has been reviewed and found in order.
d) &he cases of refunds have been reviewed and no such cases of unauthori$ed refunds
have come to our knowledge .
e) 'll payments received as per extent orders, and unit has been sending che(ue
dishonour report on monthly basis.
f) 's regard missing )oods no such cases have come to our knowledge, hence no
comments.
+. CASH , -ANK
a) Che(ues & DD*s received from the customer are deposited timely in the bank,
b) &here is no cash maintained at ICD except imprest account which have been reviewed
and found in order.
c) 's regard the transfer of funds it is observed that the following accounts are being
+aintained at unit.
i) Collection account for deposit of che(ues , DD*s. the funds have been transferred very
next day to C. - ',c.
ii) Collection accounts for cash deposited from customers are transferred to the C.- twice
in a week.
i) .o cases of unexplained Debit,Credit have been noticed.
ii) Daily cash collection summary are tallied with /ank*s challans.
iii) Daily Che(ues , DD*s summary is tallied with /ank*s challans.
iv) Bank reconciliation statements has been checked and found that it has been reconciled up to Mar-
2009 and there is no unexplained debits/credits
.. PAMENT TO H , T CONTRACTORS , SERVEORS
&he movement of Containers are checked and verified by the unit whereas the payment
of deduction under various heads and maintenance of accounts in regard to the
contractors are being done at 0egional office, hence no comments regarding the
accuracy.
/. PAMENT TO CONTRACTORS0 SUPPLIERS
's regard the matters relating to payments against Civil,1upply contractors it is observed
that these accounts are being looked after by the 0.-, hence no comments regarding any
deviation.

1. PAMENT TO RAILWAS
i) 's regard payments to 0ailways, it is observed that the freight statements are found
prepared & checked by the units on fortnightly basis which are found followed
properly whereas all payments and accounts are being complied & payments made
at 0.-. 2ence we have no comments.
ii) 's regard reconciliation with 0ailways these are being done at 0egional office level.
2ence no comments.
2. INTER UNIT ACCOUNT
i) It is observed that inter%units debit,credit notes are being prepared at unit &
subse(uently sent to 0.-. and all other accounts are being prepared and reconciled at
0.-.
ii) 1ince inter unit accounts are reconciled at regional office level and entries raised by
-ther units are not being accounted for or accepted at units, hence no comments.
3. CONTRACTS , PURCHASES
'll procurement & contracts relating to particular depot are being done and awarded at
0.-., hence no comments.
9. ESTA-LISHMENT
's regards establishment, all records except attendance register which is maintained at
depot and is updated till date and all other records maintains at 0.-. level, hence no
comments regarding the compliance.
10. STATUTOR O-LIGATIONS
's regards the statutory obligations like 3", &D1, 1ales &ax, 1ervice &ax, C& these are
being maintained at 0.-.,C.-. hence no comments regarding their compliance.
11. SERVICE TA4

a) 's regards credit of input service tax benefit, the region reported that they have sent
the bills for credit of input services to the C.-.,0.-. and the C.-.,0.-. avails the
credit of the bills. &he concerned region has maintained the proper record for service
tax collected from the customers and sent the monthly details to 0.-.,C.-. on regular
basis.
b) &here is no deviation in respect of classification into appropriate heads as per
Directions issued by C.-.
c) 3reparation and submission of service tax return at 0.-.,C.-. level. 2ence no
Comment.
12. OTHERS
&5 C&6) , -&!7 V8$()"%6
1ince no vouchers are being maintained at unit except imprest account prepared and
subse(uently sent to C.-.
b) REVIEW OF -OOKS OF ACCOUNTS9 Cash book and /ank book are maintained at
unit.&he ),4, subsidiary ledgers etc. are maintained at 0.- level
1+. EQUIPMENTS LING IDLE AND EQUIPMENTS AVAILA-ILIT
It is noticed that no e(uipment idle at site belongs to C-.C-0 and it belongs only to
contractors. 2ence no comments.
1.. PHSICAL VERIFICATION OF ITEMS OF STORES AS PER
REQUIRMENTS OF COMPANIES ACT 19/1
1ince no inventory held at ICD and no physical verification conducted at unit. 2ence no
comment.
1/. REVIEW OF FI4ED ASSETS REGISTERS
"ixed 'ssets register not completed as informed by concerned person. In case of .ew
"ixed 'ssets purchased identification marked,numbered found even.
Insurance policy of "ixed 'ssets found available on record at head office level, where as
insurance in respect of cash in transit and cash in safe policy is not available on record.
11. E4TENT OF CHECKING :;5 FOR EACH ACTIVIT
Commercial and operational records are checked on test check basis approx. 56 to 768.

<A!!"#$%"=
CONTAINER CORPORATION OF INDIA LTD.
KKU Jaipur
INTERNAL AUDIT REPORT FOR THE QUARTER ENDING MARCH- 2009
SHORT COLLECTION OF LICENSE FEE FROM HANDLING CONTRACTOR
Mo!" A#!ua$ Co$$%#!%& Di''(A)ou!
Feb-09 7!"#$00 77!#$00 %0$00