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Audit will be restricted to accounting books and records. Audit of the years that are time barred would be subject to the consent of the operator. Audit report is to be submitted to the Ministry and not Parliament. The audit would be subjected to confidentiality arrangements between parties to production sharing contract (PSC), and the CAG would be bound not to use the information acquired during such audit for any other audit under the CAG (DPC) Act. Clarifiying its position on the audit, the CAG has stated:
We are agreeable to undertake audit under Section 1.9 of PSC on the lines we have done earlier; We are not comtemplating performance audit of the operator/s in such audit; the scope, extent and manner of audit would be as laid down under CAGs (DPC) Act and the results of audit would under the CAG act. CAG stated that Section 16 of the CAGs (DPC) Act (related to the Consolidated Fund of India) gives it an unfettered right and would override all conditions sought to be imposed on its audit process.
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