Reconciliation procedure for government securities mandates monthly balance reconciliation and periodic compliance reporting by mutual funds. Monthly reconciliation of Government Securities in SGL/CSGL accounts requires Public Debt Offices to issue monthly balance statements to mutual funds, which must reconcile those balances with their transaction records; the reconciliation must form part of internal audit with auditors reporting continuously to Audit Committees and Boards, mutual funds must submit quarterly compliance certificates to the monetary authority and report compliance in AMC quarterly and Trustees' half yearly reports.
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Reconciliation procedure for government securities mandates monthly balance reconciliation and periodic compliance reporting by mutual funds.
Monthly reconciliation of Government Securities in SGL/CSGL accounts requires Public Debt Offices to issue monthly balance statements to mutual funds, which must reconcile those balances with their transaction records; the reconciliation must form part of internal audit with auditors reporting continuously to Audit Committees and Boards, mutual funds must submit quarterly compliance certificates to the monetary authority and report compliance in AMC quarterly and Trustees' half yearly reports.
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