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RETAINED RETURNS
The requirements for retained returns, proper
stowage, and disposition are discussed in chapters 1 and
6 of this TRAMAN.
AUDITING OF REPORTS AND
RETURNS
Auditing reports and returns is an essential function
in disbursing. It serves a twofold purpose. First,
auditing is an internal verification system designed to
assure the correctness and propriety of financial
documents and the related reports and returns. Second,
auditing is a management tool that enables the DO or
supervisor to evaluate the perform ante of office
personnel.
What procedures do you follow in auditing? Audit
simply means to examine to verify correctness and
accuracy. Each person will develop his or her own style
to achieve the end result. Common approaches are
checkoff lists, tickler files, and keeping sample copies
of documents for reference purposes. Regardless of the
method, one of the most important aspects is to ensure
that all new changes are incorporated.
The key to successful auditing of reports and
returns is consistency. You have read about the
importance of accuracy in financial reports and returns
and the reasons these controls are so important. Failure
to submit correct information causes problems for many
others, as well as extra work for you and your
subordinates.
SUMMARY
Financial returns may appear to entail a lot of work.
Although numerous forms are required to complete the
monthly financial returns, it is not really a difficult job.
If the cash and vouchers are properly posted, balanced,
and maintained throughout the month, the process of
preparing the monthly returns is simple. The final
document preparation and assembly can easily be done
in one working day after the close of the accounting
period allowed for submission.
The purpose of the information in this chapter was
to give you an overview of the nature of financial
returns and the requirements and procedures you must
know to submit them properly. For additional
information, we recommend you consult the
DODFMR.
7-22
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