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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
 Standard on Internal Audit (SIA) 12, Internal Control Evaluation
 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

Audit not first of its kind: Admn
October, 16th 2009

The UT Administration on Thursday tried to downplay the audit report of the Ministry of Home Affairs, saying that its findings were preliminary.

Addressing the media here, UT Finance Secretary Sanjay Kumar said, The (MHA) audit is not the first of its kind that has been done. Regular audits are conducted by the Auditor General... A wrong impression is being conveyed that its the first time an audit has been done.

He added, Chandigarh has a unique character and an exclusive set of laws like the Periphery Control Act. Maybe this was not seen by the auditors.

There could be some factual errors too. Since the report pertains to different departments, they have been asked to submit replies. The UTs formal reply would be sent to the MHA soon.

During the press conference, UT Standing Counsel Anupam Gupta said the MHAs comments on land acquisition were unprincipled, unprofessional, unfounded and unprecedented.

The MHA had lambasted the Administration for appointing a private consultant, SBI Caps, to help it manage the bidding process in the Rajiv Gandhi Chandigarh Technology Park (RGCTP). Stating that the Chandigarh Administration deliberately bypassed the budgetary process of the Union of India, the special audit report carries stern remarks on its functioning.

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