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Financial
Kerala

Report of 2011 - Financial Audit on Commercial of Government of Kerala

Date on which Report Tabled:
Date of sending the report to Government
Government Type
State
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Overview

Government commercial concerns, the accounts of which are subject to audit by the Comptroller and Auditor General of India (CAG) fall under the  following categories:
 
Government companies, Statutory corporations, and Departmentally managed commercial undertakings.
 
This Report deals with the results of audit of Government companies and  Statutory corporations including Kerala State Electricity Board and has been  prepared for submission to the Government of Kerala under Section 19A of  the Comptroller and Auditor General's (Duties, Powers and Conditions of Service) Act, 1971, as amended from time to time. The results of audit relating      
to departmentally managed commercial undertakings are included in the Report of the Comptroller and Auditor General of India (Civil) - Government  of Kerala.

Audit of the accounts of Government companies is conducted by the CAG under the provisions of Section 619 of the Companies Act, 1956.
                  
In respect of Kerala State Road Transport Corporation, Kerala State Electricity Board and Kerala Industrial Infrastructure Development  Corporation which are Statutory Corporations, CAG is the sole Auditor. As per State Financial Corporations (Amendment) Act, 2000, CAG has the right to conduct the audit of accounts of Kerala Financial Corporation in addition to the audit conducted by the Chartered Accountants appointed by the Corporation out of the panel of auditors approved by the Reserve Bank of  India. In respect of Kerala State Warehousing Corporation, CAG has the right to conduct the audit of their accounts in addition to the audit conducted by the Chartered Accountants appointed by the State Government in consultation with CAG. The Audit Reports on the annual accounts of all these corporations are forwarded separately to the State Government.                                    

The cases mentioned in this Report are those which came to notice in the course of audit during the year 2010-11 as well as those which came to notice in earlier years but were not dealt with in the previous Reports. Matters relating to the period subsequent to 2010-11 have also been included, wherever necessary.
                                                                  
Audit has been conducted in conformity with the Auditing Standards issued by the CAG.

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