The chiefs of Army, Navy and Air Force have been called on January 12 by the PAC for a hearing on the committee on Canteen Stores Department based on the audit report, which has pointed out irregularities in the supply chain management of rations in the Army.
Air India's former executive director Jitender Bhargava feels the airline should oppose the Tata-Singapore Airline plan to set up a hub in Delhi.
Comptroller and Auditor General Vinod Rai on Monday briefed the Public Accounts Committee about his report in the 2G spectrum allocation. His report on a presumptive loss of Rs 1.76 lakh crore in 2G spectrum allocation had created a storm in Parliament and outside. The PAC, headed by Bharatiya Janata Party veteran leader Murli Manohar Joshi, is examining the controversial allocation of 2G radio waves and Rai apprised the committee of how the audit looked into the whole issue.
FAA had downgraded India's safety ranking from category-II from -I after an audit revealed deficiencies in regulatory oversight.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
Nearly $1 million in funds from soccer's global governing body FIFA may have gone missing from Guatemala's soccer federation last year, according to sources and an internal audit seen by Reuters.
The panel suggests the government be authorised to raise the thresholds, which trigger applicability of Corporate Social Responsibility provisions.
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
India has been elected to the newly established Independent Audit Advisory Committee, a five-member body which is expected to contribute to improving the accountability of the UN Secretariat to the member states.
A marathon session of over a dozen hearings on implementation of Justice Rajendra Mal Lodha panel recommendations on structural reforms in the Board of Control for Cricket in India came to an end on Wednesday in the Supreme Court, which took the Indian cricket board to task over issues like fund utilisation and avoiding of performance audits.
'We started analysing young patients and realised that they had causes like undetected diabetes, which suddenly flares up during COVID-19.' 'Secondly, hypothyroidism was one of the factors.' 'And obesity.'
'The Democrats have stacked the deck against President Trump and the Republicans. They have leaked out everything,' Trump said in a series of tweet.
The most positive development over the last 60 years is the political empowerment of disadvantaged groups, introduction of the committee system and better policing of members. However, we still need to address the issue of dysfunctionality of Parliament, MPs' disdain for law making and the absence of periodic audit of the working of Parliament by independent citizens, says A Surya Prakash.
The Japanese Olympic Committee on Wednesday established a team to investigate whether any illegal payments were made during its successful bid for the Tokyo 2020 Olympics.
India on Friday won a crucial election to the UN Board of Auditors with its nominee Shashi Kant Sharma, the Comptroller and Auditor General, garnering the largest number of votes.
'Four weeks have passed after the scam was exposed, yet no big guy has been arrested.' 'This gives the impression that he wants to be soft on the biggies.'
China's National Audit Office said the country's sports authorities have since 1999 misused yuan ($15.8 million) earmarked for the 2008 Olympics.
The move is aimed at making it easier to do business in India.
IAC activist Arvind Kejrival yesterday claimed that Jaipal Reddy was shunted out of petroleum ministry due to his opposition to gas price revision.
"For the Lok Sabha elections, we are making meticulous planning on all fronts including electronic voting machines (EVMs) and the voter verifiable paper audit trail (VVPAT)," he said.
The Congress, which was not a petitioner before the apex court, wants the Rafale deal to be referred to a Joint Parliamentary Committee to go into the price arrived at by the BJP government versus the one negotiated by the previous UPA regime, as also how billionaire Anil Ambani's group with virtually no experience in manufacture of fighter jets was selected as an offset partner for the deal.
Here's a look at how the new corporate governance norms will affect India Inc boardrooms.
'We are going to have plane crashes left, right and centre.'
The 2G controversy rocked Parliament's Public Accounts Committee meeting in New Delhi on Monday with opposition parties demanding that former director general (Audit) R P Singh be summoned and asked why he differs with the Comptroller and Auditor General on the quantum of loss. With differences persisting, the meeting was adjourned. The meeting scheduled for Tuesday has also been postponed reportedly as Chhath festival falls on that day.
Amidst a debate on controversies surrounding some of the Comptroller and Auditor General reports, the high level committee that went into the Commonwealth Games related projects, has suggested changes in the functioning and structure of top audit and vigilance bodies like the Comptroller and Auditor General making it a three-member body.
The departing directors had criticised the club's handling of a social media scandal and expressed doubts about the board's ability to handle the implications of the COVID-19 pandemic, which has led to a 70% players' pay cut.
The Delhi high court on Friday directed the city government to bring into effect the recommendations of a panel suggesting over 200 private unaided schools to return excess fees to parents with interest.
It was in 2009 that the accounting regulator set up a special disciplinary committee, comprising six members, to look into the fraud in Hyderabad-based IT firm.
News of all that's transpired on and off the football field
Cricket South Africa plunged into turmoil after its acting president AK Khan and the chairman of the Audit and Risk Committee John Blair stepped down from their posts in the wake of a damning inquiry report of financial mismanagement in CSA.
Since the deadline for Justice B N Srikrishna Committee's feedback is December 31, the government is unlikely to table a data protection Bill in the winter session of Parliament.
Cricket South Africa's (CSA) franchises have experienced profits for the first time since the country was reinstated into international cricket in 1991. CSA President Chris Nenzani attributed this achievement to heightened corporate governance and diligent operational processes at its affiliates. "Congratulations to all concerned with these outstanding results," Nenzani said.
Mahindra will serve as a mentor and sounding board for the managing director on issues to be presented to the board, especially in the areas of strategic planning, risk mitigation and external interface. In addition, he will be available to provide feedback and counsel to the managing director on key issues facing the enterprise.
The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
A fresh controversy broke out in the 2G case on Tuesday with the surfacing of a letter which suggested that Parliament's Public Accounts Committee chief Murli Manohar Joshi had called up a CAG official to press for expediting auditing work into spectrum allocation.
Parrikar refused to share further details about the attack, saying the NIA is already investigating the matter.
Acting on the suggestions of political parties, the Election Commission will conduct a field trial of paper backup in the EVMs in a "simulated election" at five locations on July 24. The field trial of 'Vote Verifiable Paper Audit Trail' would be held in Ladakh (Jammu and Kashmir) Thiruvananthapuram (Kerala), Cherrapunjee (Meghalaya), East Delhi (Delhi) and Jaisalmer (Rajasthan). The decision to go in for a field trial has been taken by the EC.
The draft report of the committee contains 27 suggestions for amendments under the I-T Act and eight for reform through administrative instructions.
The report has identified 29 instances where it appears that the loans disbursed to borrowers were in turn utilised by their group companies to repay the existing debt obligations with IL&FS Financial Services Limited.
England, who have won both the one-day and Twenty20 series against Sri Lanka, play a two-day practice match in Colombo before heading to Galle which hosts the first of the three Test matches from November 6.
