Lahore: The commercial audit into the projects, income and expenses of the Lahore Development Authority (LDA) for the years 2013-14 and 2019-20 has been initiated, a news source reported on October 18. To facilitate this measure, commercial auditors have been approved.
According to the details revealed, the civic agency would undergo the audit process for the first time since its inception some 45 years ago. Many LDA records were also lost to fire during said time period. During the initial phase of the audit process, the development wing of the LDA is expected to undergo audit.
The civic agency has also prepared the Terms of Reference (ToRs) for the third-party auditors. In this audit, income and expenses from commercialisation of plots and other forms of revenue will be audited; in addition to the identification of pending commercialisation fee. Moreover, the funds expended on development projects will also be audited.
