Finance department constitutes audit committee

Representational Photo

J&K Finance department today constituted an audit committee for monitoring, ensuring compliance and settlement of outstanding audit observations of 2020.

Financial Commissioner, Finance Department, Dr Arun Kumar Mehta accorded sanction to the constitution of audit committee for the Head of Departments falling under the administrative control of Finance Department in J&K for the purpose of monitoring, ensuring compliance and settlement of outstanding audit observations/paras in terms of regulation 145 of the regulations of audit and accounts 2020 issued by the Comptroller and Auditor General of India, a government order said.

The audit committee consists of Deputy Accountant General, Audit, from the office of Principal Accountant General, J&K, as member, concerned Head of Department of Finance Department as member secretary, J&K, Additional Secretary, Finance Department as member and Joint Director (R) Finance Department as member.

The Joint Director, Resource, Finance Department shall be the convener for holding the Audit Committee meetings with the approval of the Financial Commissioner, Finance Department after receipt of the information from the concerned HoDs.

Meanwhile, the committee has been tasked to figure out number and gist of audit observations/paragraphs included in audit report of the Comptroller and Auditor General for the previous year (2020), number and gist of “major irregularities” intimated by the Principal Accountant General Audit during the previous year, action taken report by the department, and number of audit observation set communicated in draft audit reports/inspection report issued during the previous years, and gist of observation with substantial money value and those with serious internal control lapses.