supplementary audit and comments upon the statutory auditors’ report under section 619(4) of the Companies Act, 1956. C&AG conducts performance audit of selected activities of the PSUs with a view to ascertaining the extent to which entity operates economically, efficiently and effectively. C&AG also conducts transaction audit with a view to identifying and reporting on instances of significant cases of waste, loss of revenue, mismanagement and other irregularities.
some major Audit findings observed in the test check of transactions of Telecommunication PSUs. The total quantifiable financial implication of paragraphs included in this Report is Rs. 1547.47 . The irregularities pointed out are broadly of the following nature:
managementRs. 1089.00
Rs. 321.57
Rs. 101.65
Rs. 35.25
. Some of the important cases highlighting the above aspects are as under:
during the period 2005-08 due to high incidence of missed calls
for the period from June 2002 to March 2008.
.
. Some of the important cases highlighting the above aspects were as under:
, of having adequate cash reserves in short term deposits with various banks with average rate of return of 6.19 to 7.38 per cent per annum as against the rate of interest of 14.50 per cent payable for the loan during the years 2005-06 and 2006-07. This resulted in extra expenditure of Rs. 1,089 , being the interest differential on the unretired Government loan.
as Productivity Linked Incentive to the Company employees for the year 2005-06.
(Paragraph 3.2)
.
Credit, during the financial years 2005-07. This resulted in excess payment of Service Tax of Rs. 8.67 .
. Some of the important cases highlighting the above aspects were as under:
.
during the period from April 2004 to March 2007.