CAG should restrict itself to financial impropriety: PAC chief
28 Oct 2014 6:20 AM IST
In a veiled criticism of huge notional losses projected by CAG in the 2G and other scams, PAC chairman KV Thomas on Monday said audits should be restricted to financial impropriety and not come out with ‘astronomical’ figures of notional losses adding to media sensationalism.
A former Union minister and senior Congress leader, Thomas, without referring to either presumptive Rs 1.76 lakh crore loss caused to the exchequer in 2G telecom spectrum allocation or the Rs 1.8 lakh crore loss in coal block allocations, also said it would border on transgression if facts do not point to loss to the government.
‘...I cannot be oblivious of the fact that there is a perception that CAG audit is fault-finding by nature and sensational by choice. I believe audit has to be based on facts, and if on facts, an act of financial impropriety is seen, it would deserve the strongest condemnation,’ he said.
‘On the other hand, if the facts do not directly point to loss to the exchequer, it would border on transgression to give out astronomically large numbers adding to the sensationalism of the media,’ he said at a conference of Accountants Generals here.
A former Union minister and senior Congress leader, Thomas, without referring to either presumptive Rs 1.76 lakh crore loss caused to the exchequer in 2G telecom spectrum allocation or the Rs 1.8 lakh crore loss in coal block allocations, also said it would border on transgression if facts do not point to loss to the government.
‘...I cannot be oblivious of the fact that there is a perception that CAG audit is fault-finding by nature and sensational by choice. I believe audit has to be based on facts, and if on facts, an act of financial impropriety is seen, it would deserve the strongest condemnation,’ he said.
‘On the other hand, if the facts do not directly point to loss to the exchequer, it would border on transgression to give out astronomically large numbers adding to the sensationalism of the media,’ he said at a conference of Accountants Generals here.
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