The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
The Comptroller and Auditor General, whose report on a presumed loss of Rs 1.76 lakh crore in 2G spectrum allocation created a storm in Parliament, will appear before the Public Accounts Committee on Monday.
The Comptroller and Auditor General, whose report on a presumed loss of Rs 1.76 lakh crore in 2G spectrum allocation created a storm in Parliament, will appear before the Public Accounts Committee on Monday.
Congress leader Digvijaya Singh on Tuesday claimed a senior railway official had flagged a fault in the signal interlocking system in February and warned of the train accident risk but the problem was not rectified which led to the Balasore train crash.
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Bogged down by kickback charges, the Scorpene submarine deal has now come under criticism from the Comptroller and Auditor General for the delay involved and financial "advantage" given to the French company. In its latest audit report tabled in Parliament on Saturday, the Comptroller and Auditor General came down heavily on the Defence Ministry for the nine-year delay.
Advisory firm Institutional Investors Advisory Services (IIAS) has advised investors to vote against a resolution seeking the reappointment of the statutory auditor of technology major Infosys.
A state government order said divisional as well as administrative inquiries should be initiated.
Gadkari and Singh on Thursday came together to release a book on late Congress leader Ramkrishna More at Pimpri Chinchwad near Pune.
The auditors said that the carrier's second-quarter net loss would have been much higher, at about Rs 1,032 crore, had it followed "generally accepted accounting standards" for certain income and expenses.
If standard accounting standards were followed, the loss would have been about Rs 1,090 crore.
Ontario's Minister for Citizenship and Immigration Mike Colle had to resign from the Cabinet on Thursday because of a damning report by the provincial Auditor-General, who took exception to him issuing a cheque for $1-million to the Ontario Cricket A
The bone of contention is the 450-seat convention centre built in the new DRDO building behind South Block at an additional cost of Rs 6.40 crore which has been taken objection to by the Comptroller and Auditor General.
India national team and Bengaluru FC footballer, CK Vineeth was given the pink slip by Kerala Accountant General for lack of attendance
'Many do not have robust business models, and their prospects of survival and long-term growth are poor.'
More than 120 eminent citizens, including retired high court judges and former bureaucrats, have written to President Droupadi Murmu opposing what they called "highly objectionable attempts" to legalise same-sex marriages.
Defending the proactive approach of the CAG, Rai emphasised that the job of the public auditor was also to ensure that executive and the government are held financially accountable to legislature.
The auditor said that in the case of performance audit on hydrocarbon production sharing contracts, 'interactive meetings were held with two operators, including RIL, prior to the finalisation of the draft performance audit report'.
The Comptroller and Auditor General of India (CAG) has pointed out several flaws in the financial practices of the Gujarat government and said there was a need to formulate a realistic budget based on the needs of the departments.
From the time he first rose to prominence during the movement against the then UPA government, Arvind Kejriwal has regularly grabbed headlines for his surprise moves and decisions. Here are 10 such instances.
He said the benchmark against which the auditors examine and assess the performance of the departments are not created by them, but by the government itself.
The parent entity, (Holdings) Ltd, have also expressed concern over the company's significant exposure to the airline.
US lenders represented by Glas Trust have countered Byju's founder Byju Raveendran's claim on verified debt on the company being merely around Rs 20 crore, and have said that the beleaguered edtech firm will have to pay the entire $1.2 billion Term Loan B along with interest. The founder of Think and Learn (TLPL) and owner of Byju's brand, Byju Raveendran, had about a week ago said that verified debt on the company is only Rs 20 crore as per insolvency proceedings and he may not have to pay any money to the US lenders represented by Glas Trust.
If she cannot recast the party, bring together the factions opposed to her, and present herself as her brother's true challenger, there will be little left for her in politics, notes Aditi Phadnis.
'Governments have no business running temples. Governments certainly have no business deciding who is a Hindu and who is not a Hindu.'
Government auditor, the Comptroller and Auditor General has found that not all disease outbreaks and chemical accidents taking place in different parts of the country are reported to Central authorities which could effect the response to epidemics.
The Delhi government on Friday said Chief Minister Sheila Dikshit has not been indicted by the Comptroller and Auditor General on corruption charges for dubious Commonwealth Games projects and the auditor has only pointed out certain "procedural wrongdoings".
The new army chief's highest priority must be to address the critical hollowness in the Indian Army's operational preparedness, says Brigadier Gurmeet Kanwal (retd).
Government is considering a proposal to make Comptroller and Auditor General (CAG) into a multi-member body, a move that came under sharp criticism from the opposition and civil society.
Attacking the Congress over former Comptroller Auditor General Vinod Rai's claims, Bharatiya Janata Party on Sunday said the opposition party stood "exposed" and demanded that the identity of leaders who "approached him" to drop names of those involved in scams during the United Progressive Alliance regime be revealed.
With the figure of Rs 1.76 lakh crore loss in 2G spectrum allocation being disputed, Comptroller and Auditor General Vinod Rai and other officials of the government auditor will be asked to appear before the Joint Parliamentary Committee looking into the issue.
Amid furore over coal blocks allocation, the government will place its views before Parliament's Public Accounts Committee by September 14 on the observations made by the Comptroller and Auditor General. "The coal ministry will submit its comments to the PAC on CAG's observations on coal blocks allocations by September 14," said a top coal ministry official.
It asks banks to take immediate action against officials responsible for lapses.
The Comptroller and Auditor General of India on Monday reported multiple irregularities in the accounts of units under the IT and telecom ministries, including purchases of hardware and software worth Rs 890 crore by NICSI in contravention of rules. In its audit report for financial years 2017-18 and 2018-19, the Comptroller and Auditor General (CAG) has flagged anomalies in the decision taken by state-run telecom firm BSNL, C-DoT, the Department of Posts, ITI Limited and CDAC that had adverse financial implications. "NICSI procured hardware and software costing Rs 890.34 crore through the 'Strategic Alliance' route in contravention of General Financial Rules, 2005 and departmental instructions and thus failed to ensure transparency and competitiveness in the procurement process," according to the CAG report tabled in Lok Sabha on Monday.
Government auditor CAG has rapped five regulators, including Sebi, Irda and PNGRB, for keeping their surplus funds worth over Rs 2,142 crore collected through fee and penalty outside the government accounts.
Trying to wriggle out of the controversy over Union Minister V Narayansamy's remarks on the Comptroller and Auditor General, the Congress on Monday indicated that the government will not go in for changes in the auditor's institutional mechanism based on the "activities of a person".
DRDO's failures over the decades have contributed significantly to India becoming the world's biggest weapons importer, points out Lieutenant General Prakash Katoch (retd).
Stung by the Comptroller and Auditors General report on notional revenue loss in coal blocs allocation, Congress on Thursday asked the national auditor to respond to the debate triggered by its findings about its methodology and working style.
