THIRUVANANTHAPURAM: Finance Minister TM Thomas Isaac said that the Comptroller and Auditor General (CAG) can never become the statutory auditor of KIIFB. He said KIIFB had to provide audited reports to the investors in a timely manner and hence an in-house audit arrangement vetted by the legislative assembly was better.
Isaac said that both the in-house audit and the CAG audit could co-exist. He was addressing media persons in the legislative assembly complex on Tuesday while responding to the allegations raised by the opposition.
Isaac admitted that the government had received a letter from CAG seeking the audit of KIIFB and said that a reply was given with his opinion on it.
He also said that another letter had come from the CAG two weeks before with the same demand.When asked whether he would seek an explanation from the chief secretary on the delay in responding to the letter, Isaac said, “I will be asking him on the same.”