CAG urges to integrate "effective preventive vigilance" in PSEs

Said emphasis on preventive vigilance would provide timely warnings to the management about possible risks

GN Bureau | November 20, 2013



Shashi Kant Sharma, Comptroller & Auditor General of India (CAG) has urged public sector enterprises (PSEs) to consider ways and means to integrate effective preventive vigilance in the structure of the organizations.  

“This is the only way to make vigilance a constructive part of sound internal control system in any organization,” he said.
Speaking at a release function of the special issue of KALEIDOSCOPE Journal on “Vigilance Administration in PSEs”, organized by SCOPE, in Delhi.
 
Sharma laid emphasis on preventive vigilance, proactive, and risk assessment which provide timely warnings to the management about possible risks.  He said vigilance departments in PSEs have been taking proactive actions in developing systems and procedures which have potential to lead to correct practices.

U D Choubey, director general of SCOPE in his address said that the vigilance administration in PSEs has enhanced their image. He said PSEs have large and complex heterogeneous systems starting from their accountability to Parliament and many committees like CVC, CAG, CBI, CIC, and CCI.  He advocated for greater flexibility in public sector for speedier decision making.

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