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 NFRA issues Draft Procedure for Submission of Audit Files
 Auditors barred from putting a value on companies they are auditing
 Standard on Internal Audit (SIA) 18, Related Parties
 Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit
 Standard on Internal Audit (SIA) 16, Using the Work of an Expert
 Standard on Internal Audit (SIA) 14, Internal Audit in an Information Technology Environment
 Standard on Internal Audit (SIA) 13, Enterprise Risk Management
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 Standard on Internal Audit (SIA) 11, Consideration of Fraud in an Internal Audit
  Standard on Internal Audit (SIA) 9, Communication with Management
  Standard on Internal Audit (SIA) 8, Terms of Internal Audit Engagement

No discrepancy found in special audit report
March, 17th 2010

The special audit report for mobile services operator Idea Cellular, commissioned by the Department of Telecommunications (DoT) was submitted by auditors to the department on Tuesday.

The DoT had issued letters to telecom companies including Bharti Airtel, Vodafone Essar, Reliance Communications and Tata Teleservices to provide accounting details for three years from 2006-07 to the Comptroller and Auditor General of India (CAG) in the next 15 days.

Commenting on the same, the companys Managing Director, Sanjeev Aga, said, "The special audit report on Idea Cellular has reported no discrepancy.

Indeed it could not have. There are tabulations of some amounts, presumably for data collation as required by DoT.

Such heads of accounts were treated a) in line with Mandated Accounting standards, b) strictly as per Telecom Disputes Settlement and Appellate Tribunal (TDSAT) rulings and c) the view of the Special Auditor is not to the contrary."

The report which asks the DoT to take a view on the findings, says that the views may be taken on infrastructure sharing and roaming discounts. It also states that the views may be taken on items excluded from gross revenues.

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