Auditors’ body urges more powers to PAC, banks’ audit by CAG

New Delhi, Dec 26: An auditors body on Monday sought independent powers of investigation for Parliament’s Public Accounts Committee (PAC), and demanded that banks, other fincial institutions and PPP projects be brought under the purview of India’s official auditor. “The Institute of Public Auditors of India (IPAI) has strongly demanded that the PAC be given enough powers to take up issues for investigation on its own. “It also advocated to bring banks, other fincial institutions and projects under the public-private partnership (PPP) within the scope of the Comptroller and Auditor Generals’s (CAG) audit,” the body of public fince specialists said. “A report should also be placed in Parliament about recommendations of the PAC, which have not been accepted by the government, along with reasons thereof,” IPAI said in a statement, adding that a time limit should be set within which departments should submit their Action Taken Reports. (IANS)