Lahore: A new unit has been set up for conducting the financial audit of projects under the China-Pakistan Economic Corridor (CPEC) initiative, a news source reported. This financial audit unit is expected to oversee projects worth billions of dollars being carried out with the help of China.
A ceremony was held at the Audit & Accounts Academy on Sunday to this effect. During the event, the Auditor-General of Pakistan Mr Javed Jehangir stated that a directorate-general is being set up for carrying out the financial audit of CPEC projects. He added that three other similar units are also in the works. These will be responsible for implementing the audit of the social safety net, information system, and the environment.
Jehangir quoted that both the federal and provincial governments had demanded a special audit report for their development projects. They insisted the same for the related expenditures and revenue generated, he added.
The Auditor-General further commented that the auditors would have to enhance their expertise in conducting IT, forensic and environment audits to fulfil these objectives.
