Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: due date for vat payment :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: list of goods taxed at 4% :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: empanelment :: VAT Audit :: TDS :: Central Excise rule to resale the machines to a new company
 
 
News Headlines »
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns
 Government may set threshold for probe into deposits to prevent harassment of taxpayers
 How to calculate capital gains tax
 April 1 still the target for GST: FM
 How to respond to CBDT’s tax compliance notice
 Goods & Services Tax (GST)(As On 01-01-2017)
 Excise, service taxpayers to migrate to GST portal by January 31
 Tax numbers belie slowdown: FM

CAG to highlight corruption, fraud cases
February, 24th 2007

The Comptroller and Auditor General of India (CAG) will highlight corruption and fraud cases in its audit reports by putting them in bold letters so as to attract greater attention of decision makers.

The issues having "sting and smell" of corruption and fraud would be highlighted in CAG reports to help government departments and secretaries focus on those areas, CAG V N Kaul said at an interactive session with Forum of Financial Writers here.

CAG, which examines about 15 million vouchers and audits 64,000 inspection reports every year, will present 110 reports for 2005-06 to the President for tabling in Parliament, Kaul said. The CAG submitted 91 reports for 2004-05.

Brushing aside the general impression that government did not take any action on CAG reports, Kaul said, once the reports are tabled in Parliament they are discussed by Parliamentary committees leading to departmental action.

Out of Rs 34,003 crore non-recovery pointed by CAG in local inspection reports prepared in 2005-06, the government accepted audit findings for Rs 7,996 crore and recovered Rs 1,227 crore.

However, he admitted that there was a need to improve the action taken mechanism as "CAG is still awaiting action taken notes on over 5,000 cases from Centre and in about 11,000 cases from the states."

Referring to Finance Ministry's decision to shift from cash method of accounting to accrual system, he said it could take up to 12 years.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions