CAG raises audit objections involving Tk 15.26 billion
Friday, 4 June 2010
Raihan M Chowdhury
The office of Comptroller and Auditor General (CAG) has raised 296 objections involving Tk 15.26 billion in 16 ministries with ministry of finance in the top list.
A total of 18 audit reports for 2005-06 and 2006-07 fiscals were submitted to Prime Minister Sheikh Hasina Wednesday.
According to the CAG reports, ministry of finance topped the list with two objections involving Tk 7.42 billion. The other ministries are civil aviation and tourism, food and disaster management, industries, textile and jute, commerce, agriculture, LGRD, communications, power, health and family welfare, water resources and shipping.
In the previous submission, the CAG has raised around 160 objections involving over Tk 17.45 billion (1,745 crore) in foreign-funded projects while auditing the accounts of four fiscal years from 2002-03 to 2005-06.The major audit objections include non-recovery of classified loans, exemption of bank loans, misappropriation of money, misuse of money, providing undue facilities to contractors, non-realisation of value added tax, irregularities and financial loss on lack of effective plans, violation of government financial rules and expenditures beyond project proposals.
The government incurred losses of Tk 1.29 billion due to disbursement of loan without collateral and insurance facilities, Tk 808 million on account of interest waiver and Tk 413.60 million because of loan reschedule under finance division of finance ministry.Similarly, the internal resource division (IRD) made a dent in the state coffer involving Tk 305 million through allowing unlawful tax exemption, the CAG findings revealed.
A total of 27 audit objections involving Tk 2.65 billion were detected in the foreign-funded projects under the ministries of communication, power, health, water resources and local government, rural development and cooperatives during the 2006-07 fiscal.Of them Tk 1.80 billion was involved in 18 objections under the ministries of communication, power, health and water resources.
The objections included expense without competitive tender, extra payment to the contractors, violation of procurement law etc.Another nine objections involving Tk 853 million were detected in the LGRD ministry.
The CAG is empowered by the constitution to audit and report on public accounts of the republic and all courts of law, and all authorities and officers of the government.Of the audited reports, two were from 2005-06, one from 2005-07 and 15 from 2006-07 fiscals.
"Government auditing standards, audit code, audit manual and existing rules and regulations were properly followed while conducting the audit on the accounts of the foreign funded projects," said the preface of the audit reports.
The office of Comptroller and Auditor General (CAG) has raised 296 objections involving Tk 15.26 billion in 16 ministries with ministry of finance in the top list.
A total of 18 audit reports for 2005-06 and 2006-07 fiscals were submitted to Prime Minister Sheikh Hasina Wednesday.
According to the CAG reports, ministry of finance topped the list with two objections involving Tk 7.42 billion. The other ministries are civil aviation and tourism, food and disaster management, industries, textile and jute, commerce, agriculture, LGRD, communications, power, health and family welfare, water resources and shipping.
In the previous submission, the CAG has raised around 160 objections involving over Tk 17.45 billion (1,745 crore) in foreign-funded projects while auditing the accounts of four fiscal years from 2002-03 to 2005-06.The major audit objections include non-recovery of classified loans, exemption of bank loans, misappropriation of money, misuse of money, providing undue facilities to contractors, non-realisation of value added tax, irregularities and financial loss on lack of effective plans, violation of government financial rules and expenditures beyond project proposals.
The government incurred losses of Tk 1.29 billion due to disbursement of loan without collateral and insurance facilities, Tk 808 million on account of interest waiver and Tk 413.60 million because of loan reschedule under finance division of finance ministry.Similarly, the internal resource division (IRD) made a dent in the state coffer involving Tk 305 million through allowing unlawful tax exemption, the CAG findings revealed.
A total of 27 audit objections involving Tk 2.65 billion were detected in the foreign-funded projects under the ministries of communication, power, health, water resources and local government, rural development and cooperatives during the 2006-07 fiscal.Of them Tk 1.80 billion was involved in 18 objections under the ministries of communication, power, health and water resources.
The objections included expense without competitive tender, extra payment to the contractors, violation of procurement law etc.Another nine objections involving Tk 853 million were detected in the LGRD ministry.
The CAG is empowered by the constitution to audit and report on public accounts of the republic and all courts of law, and all authorities and officers of the government.Of the audited reports, two were from 2005-06, one from 2005-07 and 15 from 2006-07 fiscals.
"Government auditing standards, audit code, audit manual and existing rules and regulations were properly followed while conducting the audit on the accounts of the foreign funded projects," said the preface of the audit reports.