Discrepancies worth Rs8.27 trillion revealed in Federal Government Accounts – Research Snipers

Discrepancies worth Rs8.27 trillion revealed in Federal Government Accounts

Many discrepancies found in the Federal Government accounts doubling the amount of Federal budget for the current fiscal year 2017-18.

The auditors have unearthed whopping irregularities worth Rs8.27 trillion in the Federal government accounts, a top official said and ARY reported.

Javaid Jahangir, Auditor General of Pakistan (AGP) said, “Besides Rs 8.27 trillion of irregularities, Rs 1.15 trillion of discrepancies were also found in the provincial department accounts.”

Recently, during a meeting of the policy board of the Department of AGP, he unfolded these irregularities while presiding over the meeting. The recent meeting was held in order to discuss the Public Sector Audit Plan 2018-19 and audit theme recommendations.

Earlier, DAGP introduced the new codes of accounts and audit by replacing the old codes and manuals with the new financial audit manual and new reporting templates that meet international standards and requirements of the audit.

Audit and Accounting Services

AGP said that the department is focused on making better relationships with all stakeholders by aligning its objectives with government’s reform agenda, improving communication with all stakeholders and working collaboratively to help clients achieve their objectives efficiently.

In the previous meeting of policy board, DAGP took initiative to introduce reforms proposing a way forward for collaboration with professional auditing and accounting bodies in Pakistan, also the ways to include NGOs and Social Sector in audit planning.