T&W/No. - vv\ \§\P, ! ) ,J TMfF4 ffftiX AW(I9 "TfY,M ft;cf INDIAN AUDIT & ACCOUNTS DEPARTMENT, iICEF OF THI I)1IE(CTOR (ENERAL 01 At)IT (INFRASTRUCTURE-), DI)II fdffii/ Dated 0 3 FE B 2022 f rq: Audit Report, Management letter and Audit Certificate in respect of World Bank Assisted Efficient and Sustainable City Bus Service (ESCBS) Grant No. TF-018577 for the year 2019-20. Please find enclosed Audit Report. Audit Certificate and Management letter in respect of World Bank Assisted Efficient and Sustainable City Bus Service (ESCBS) Grant No. IT-0 18577 for the year 2020-21, Ministry of Housing and Urban Affairs New Delhi. (t kT 74tu) ---TFT Im (f%f45)/4(18)/3TR-7(2020-21)/ESCBS/2021-22 f : 1 0 3 F E B 2022 Copy along with enclosures for information to: J-National Project Director (ESCBS), Govt. of India. Ministry of Housing and Urban Affairs, Nirman Bhawan, New Delhi-I 10011 2. Controller of Aid. Accounts and Audit, Ministry of Finance, Department of Economic Affairs. Fund Bank Division, Janpath Bhawan. New Delhi-I 10011 ' Sr. Administrative Officer (Commercial). Office of Comptroller & Auditor General of India. 9, Deen Dayal Upadhyay Marg, New Delhi-l 10124. 4. Administrative Officer (PPG-EAP). Office of the Comptroller & Auditor General of India, 9 Deen Dayal Upadhyay Marg, New Delhi-I 10124. 3rd Floor, A-Wing, Indraprastha Bhawan, 1. P. Estate, New Delhi-110002 ip"TM/Tele.: 011-23378473, *M/Fax : 011-23378432, 011-23370871 E-mail : pdainfradl@cag.gov.in &W11/No, INDIAN AUDIT & ACCOUNTS DEPARTMENT. OFFICF OF THE DIRECTOR GENERAL OF AUDIT (INFRASTRUCTURE), DELHI D icad' eest /ated R 2 AUDIT CERTIFICATE The Expenditure Statement Financial Statements relating to World Bank assisted Efficient and Sustainable City Bus Service (ESCBS) Project Grant No. TF-018577 for the year 2020-21 attached hereto have been audited in accordance with the regulations and standards of audit of the Comptroller and Auditor General of India and accordingly included such tests of accounting records, internal checks and controls, and other auditing procedures necessary to confirm a) that the resources were used for the purpose; and b) that the expenditure statements/financial statements are correct. During the course of the audit referred to above, Statement of Expenditure for Rs. 69,721.37 (thousand) and the connected documents were examined and Rs. 69,721.37 (thousand) can be relied upon to support reimbursement under the Loan Agreement. On the basis of the information and explanations that have been obtained as required and according to the best of our information as a result of the test audit, it is certified that the Expenditure Statement / Financial Statements read with the observations in the Management Letter represent a true and fair view of the implementation of the Project for the year 2020-21. This certificate is issued without Prejudice to C&AG's right to incorporate the Audit Observations in the Report of C&AG of India for being laid before Parliament. 79tv (AwIffl Ift -da, 4-m a MzM, ege,m ftZR*-110002 3rd Floor, A-Wing, Indraprastha Bhawan, 1. P. Estate, New Delhi-110002 iprq/Tele.: 011-23378473, tzl/Fax : 011-23378432, 011-23370871 E-mail : pdainfradl@cag.gov.in INDIAN AUDIT & ACCOUNTS DEPARTMENT, OFFICT OF THE DIRECTOR GENERAL OF ALTD] T (INFRASTRUCTURE), DLHI Deci N c to Tru jF, PUbc I1t i fiR /Dated 0 3 FEB 0J2 To, The Secretary to the Govt. of India, Ministry of Housing and Urban Affairs (MoHUA) Nirman Bhawan, New Delhi-110011 We have audited the accompanying financial statements of World Bank assisted Efficient and Sustainable City Bus Service (ESCBS) Project Grant No. TF-018577 which comprises of the Statement of Sources and Application of Funds and the Reconciliation of Claims to total applications of funds for the year ended 31.03.2021. These statements are the responsibility of the Project Management. Our responsibility is to express an opinion on the accompanying financial statements based on our audit. 2. This draft Separate Audit Report contains the comments of the Comptroller & Auditor General of India (CAG) on the accounting treatment only with regard to classification, conformity with the best accounting practices, accounting standards and disclosure norms etc. Audit observations on financial transactions with regard to compliance with the Law, Rules & Regulations (Propriety and Regularity) and efficiency-cum-performance aspects, etc., if any, are reported through Inspection Report/ CAG's Audit Reports separately. 3. We have conducted our audit in accordance with auditing standards generally accepted in India. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements. An audit includes examining, on a test basis, evidences supporting the amounts and disclosure in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of financial statements. We believe that our audit provides a reasonable basis for our opinion. 4. In our opinion, the financial statements present fairly, in all material respects, the sources and application of funds for World Bank assisted Efficient and Sustainable City Bus Service (ESCBS) Project Grant No. TF-018577 for the year ended 31.03.2021 in accordance with Government of India accounting standards. 5. In addition, in our opinion, (a) with respect of Statement of Expenditures, adequate supporting documentation has been maintained to support claims to the World Bank for reimbursement of expenditure incurred and; (b) subject to audit observations mentioned in the management letter 3rd Floor, A-Wing, Indraprastha Bhawan, 1. P. Estate, New Delhi-110002 STM/Tele.: 011-23378473, tkil/Fax : 011-23378432, 011-23370871 E-mail: pdainfradl@cag.gov.in appended to this Audit Report, expenditure are eligible for financing under the Financing Agreement. During the course of audit, Statements of Expenditure amounting to Rs. 69,721.37 (thousand) for the year 2020-21 and connected documents were examined and Rs. 69,721.37 (thousand) can be relied upon to support reimbursement under the Loan Agreement. This Report is issued without prejudice to C&AG's right to incorporate the audit observations in the Report of C&AG of India for being laid before Parliament. We have audited the Annual Financial Statements of World Bank assisted Efficient and Sustainable City Bus Service (ESCBS) Project Grant No. TF-018577 for the year 2020-21. Deficiencies observed during the course of audit are mentioned below. Further, that the Expenditure Statement /Financial Statement represent a true and fair view of the implementation of the Project for the year 2020-21 be certified.