THIRUVANANTHAPURAM: The Comptroller and Auditor General of India (CAG) has the right to monitor the money being spent by the state government, Finance Minister TM Thomas Isaac has said. He was inaugurating a seminar titled ‘Audit -- New generation, New Outlook’, organised by the state Audit Department here on Tuesday.
“There is no dispute in verifying the money mobilised through Kerala Infrastructure Investment Fund Board (KIIFB). If we can conduct an audit of a company, then the Constitution assures the right to CAG for conducting all audit,” Isaac said.
He further said the local fund audit section should prepare a report on the accountability of a project in addition to verifying the lapses in income and expenditure statistics and lapses in the procedure of the project. “For this, self-study and training are important. At this juncture, we need to reorganise the audit section as audit commission,” Isaac added.