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Kerala

Report No. 1 of the year 2024 - General Purpose Financial Report of Public Sector Undertakings, Government of Kerala for the year ended 31 March 2022

Date on which Report Tabled:
Thu 11 Jul, 2024
Date of sending the report to Government
Fri 05 Jul, 2024
Government Type
State
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Sector Industry and Commerce

Overview

Report of the Comptroller and Auditor General of India – ‘General Purpose Financial Report of Public Sector Undertakings, Government of Kerala’ for the year ended 31 March 2022

This report presents the financial position and performance of the State Public Sector Undertaking (PSUs) in Kerala. Besides, the Report also covers other significant aspects viz. Oversight Role of the Comptroller and Auditor General of India (CAG), Corporate Governance in PSUs and Corporate Social Responsibility of PSUs.  This Report has been divided into four chapters.

Chapter I: This Chapter presents a summary of financial performance of Public Sector Undertakings (PSUs) providing insight into the investment in Government companies and Statutory corporations and returns therefrom, operating efficiency of PSUs, disinvestment, views of the Government and recommendations of Audit.

Chapter II: This Chapter deals with the oversight role of CAG in the issues of audit of PSUs, submission of accounts by PSUs, statutory audit, supplementary audit, non-compliance with the provisions of Accounting Standards/Ind AS by PSUs, significant comments of CAG on accounts of PSUs, comments on compliance matters, Management Letters, views of Government and recommendations of Audit. 

Chapter III: This Chapter explains the Corporate Governance in PSUs in the areas of Meetings and composition of Board of Directors, appointment and functioning of Independent Directors, filling up the posts of Key Managerial Personnel, Audit Committee and whistleblower mechanisms.

Chapter IV: This Chapter deals with the audit findings on compliance with the provisions of the Companies Act 2013 with regard to Corporate Social Responsibility (CSR) viz., constitution of CSR Committee, formulation and compliance with CSR Policy, planning and utilisation of CSR funds, and monitoring and reporting thereof by the PSUs.

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