The Comptroller and Auditor General (CAG) has stated that Reliance Industries is providing full access to records and making available copies of documents it has sought for audit of expenses incurred on the nation's largest gas field.
CAG, which started audit of the Krishna Godavari basin D6 field on December 21, after completing the first round of scrutiny sought a completely new set of documents and access to RIL's entire corporate SAP (computer-based accounts).
"There has been progress both in receipt of requisitioned documents as well as in making photocopies," CAG Principal Director of Audit K R Sriram wrote on February 12. Since, the entire RIL is not being audited by CAG, segregating records pertaining to on the KG-D6 fields was taking time.
CAG's scope of audit of PSC in respect of the block KG-DWN-98/3 (KG-D6) awarded to RIL, for two financial years - 2006-07 and 2007-08, with access to records of previous years linked to transactions of these years.
It is also understood that scope of this audit will far exceed the normal course of audit by CAG and the prime objective may be to detect fraud, if any, by the operator (RIL) allegedly in collusion with the oil regulator DGH and Ministry of Petroleum and Natural Gas.
Source:http://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas/RIL-fully-cooperating-with-audit-CAG/articleshow/5599763.cms
Labels: Reliance, Reliance Group, Reliance Industries, RIL