RIL hopes CAG won't do a performance audit of KG-D6 block
Quotes

RIL hopes CAG won't do a performance audit of KG-D6 block

Last Updated: Saturday, November 03, 2012, 21:51
 
 Comment 0
 
RIL hopes CAG won't do a performance audit of KG-D6 block
Mumbai: Reliance Industries Saturday said the Comptroller and Auditor General's right to conduct a performance audit does not apply to private companies.

"We appreciate the fact that the CAG is in agreement that it does not conduct performance audit of private operators and expect that no such performance related audit issues applicable to the government will be applied to any such audit," the company said in a statement.

RIL was reacting to the CAG's statement that the audit of the RIL-operated Krishna-Godavari (KG) D6 oil and gas block has to be both a financial and performance audit.

"RIL has at no time contested the government's right to conduct an audit by any agency, including the CAG as provided in Section 1.9 of the Accounting Procedure of the Production Sharing Contract. At all times RIL has fully co-operated with any auditor appointed by the Government."

The statement further said that RIL welcomes comments on operational matters if such comments come from experts having the requisite knowledge of deep water operations in the oil and natural gas sector.


IANS




First Published: Saturday, November 03, 2012, 21:51


Comments


comments powered by Disqus
New York Auto Show
New York Auto Show
Top Businesswomen in India
Top Businesswomen in India
World`s top ten billionaires 2014
World`s top ten billionaires 2014
2014 Geneva International Motor Show
2014 Geneva International Motor Show
Geneva Auto Show 2014
Geneva Auto Show 2014

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved