External and Internal Audits at SIMATS

External  Audit

Saveetha Institute of Medical and Technical Sciences is to provide Education in 13 disciplines in accordance with the object of education and registered as Charitable Trust u/s sec 12AA of Income Tax 1961. External Audits are conducted by an Independent Chartered Accountant by evaluating the accounting system and to ensure the accounting software is able to provide a proper account in accordance with Accounting Standard. Auditors should also take into account various laws and acts that have to be followed for the operation of the Institution. Auditors should also take into account the observations made by the Audit Committee. The Audit programme of each financial year has been framed based on the operation of various educational intuitions, size of the operation and ensure that proper internal control has been followed. The Auditors should ensure that resources generated by way of academic receipts have to be utilized to achieve its objects. The Audit Report have been filed by the Auditor in form 12A(b) of act within the time limit

Internal Audit

Internal Audit System is an Independent appraisal of policies, system and internal control and ensures that all the frameworks communicated by way of circulars are adopted. The Internal Auditor Function has to verify all day to day transactions in accordance with the framework for which various audit teams have been formed to conduct audit effectively in various colleges and its verticals including weekly material Audit. It includes the audit of better utilization of resources for each department within the budgetary allocation. The Internal audit should also strengthen with cyber security professionals including information system auditors. It facilitates the standard security measures, firewalls in systems are also to be reviewed periodically. The Internal Audit should function effectively under the review of the Audit committee.

The Internal Auditors observations have been framed as Internal Audit Report and communicated to various departments in colleges. The observation made by Internal Auditors is resolved by the departments with proper documentary evidence. The Audit specified Para has been closed based on the explanations  If there are any unsolved Audit paras are classified into two broad categories such as System and procedure deviation and day to day circulars are not adhered with. The deviations are examined with prima facie evidence for taking further course of action those who are negligent in discharging the duties by way of warning. It became a serious offence and suitable disciplinary action was initiated against the concerned person.

The Audit is also empowered by NABH Audit of Hospital and Health care. The ISO Audit is also conducted for academic functions, human resources and purchase functions. Environmental Audit  has conducted for environment sustainability such as rain water harvesting, Zero based waste management, plantation of trees for green environment. The internal quality Assurance cell (IQAC) has conducted audits in respect of curriculum design, teaching and learning process, research activity, teaching faculty, welfare,  leadership, innovation of best practices and plan to check for action