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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

Sibal's remarks have hurt the CAG: PAC to write to President
January, 13th 2011

Upset over Kapil Sibal's attack on the CAG, the Public Accounts Committee will protest to both the President and Lok Sabha Speaker against his 'impropriety'.

The PAC, which is scrutinizing the CAG report on loss of revenue due to undervaluing of spectrum, unanimously ruled that Sibal's criticism of the  auditor was "improper" and had breached the privilege of Parliament.

PAC chairman Murli Manohar Joshi said on Wednesday that the 22-member committee felt Sibal's attack of the CAG audit was "against propriety".

"The sense of the committee was that the standing of the PAC and CAG has been affected," Joshi said.

In Wednesday's meeting of the PAC, its first since Sibal lashed out at the auditor, the matter was raised by Joshi himself. He was supported by members of the non-UPA parties.

Joshi endorsed the argument of members that being a Parliament committee, PAC enjoys the same privileges as the House itself.

The rules of the House prohibit any comment in public by a government functionary on a matter under consideration of the House and the PAC. Thus, Sibal's running down of the CAG may appear to be in conflict with the rule book.

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