CAG Current Affairs - 2020

Petroleum Ministry: ‘CAG has the right to undertake audit KG-D6’

The Petroleum Ministry has stated that the Comptroller and Auditor General (CAG) has the right to undertake the audit of Reliance Industries Ltd (RIL)’s KG D6 block on behalf of the government. As per the Ministry, CAG can undertake the audit of block KG-DWN-98/3 of RIL under Section 20 of the CAG’s Duties, Powers and Read More…

CAG Vinod Rai re-elected as chairman of UN external auditors panel

Vinod Rai who is current Comptroller and Auditor General (CAG) has been re-elected as the chairman of the panel of external auditors of the United Nations (UN). What the panel is all about? The panel which was formed in 1959 through a resolution of UN General Assembly comprises of individual external auditors who are heads Read More…

CAG waits for pending RIL’s KG-D6 records

The Comptroller and Auditor General (CAG) has said that it has not been provided with full access to all the documents required for the expenditure audit related to Panna-Mukta-Tapti (PMT) and KG-D6 blocks relating to expenditure for previous years up to 2011-12. For this reason, CAG has recommended the Petroleum Ministry to examine all relevant Read More…

2G spectrum auction flops; less than Rs. 10K crore of bids received by Govt

The 2G mobile phone spectrum auction ended in a flop show with merely Rs. 9,407 crore being collected in the process contrary to the high valuation estimated by the CAG in its criticizing report of the government two years ago. Half of the airwaves on offer remaining unsold and government getting just about one-third of Read More…

RIL welcomes CAG’s withdrawal of Performance audit on private operators

Reliance Industries Ltd (RIL) conveyed that it has no objection to an audit by any government agency. The company appreciated India’s national auditor Comptroller and Auditor General of India (CAG) decision of not conducting performance audit of RIL-operated Krishna-Godavari oil and gas block off Andhra Pradesh coast. The CAG had said it does not conduct Read More…