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Members of Parliament attends presentation on the Annual Audit Report 2020-21 and Performance Audit on Operation of NRDCL

Posted on :06 January 2022

The Members of the Parliament led by Hon’ble Speaker and Hon’ble Chairperson attended a presentation on the Annual Audit Report 2020-21 and Performance Audit on Operations of Natural Resources Development Corporation Limited (NRDCL)  by the Royal Audit Authority. The presentation was chaired by the Chairperson of the Public Accounts Committee.  

 

The Annual Audit Report 2020-21 was presented in five parts; Mandates, Royal Government of Bhutan’s  Annual Financial Statement, Significant cases, Conclusion, and Recommendations. The AAR 2020-21 highlighted shortfalls and lapses, fraud and corruption, and non-compliance as major irregularities. Some of the reasons cited for these irregularities include inadequate control systems, weak leadership, responsibility and accountability, and non-implementation of corrective actions by the budgetary agencies. The Report recommends the Government reinforce the system of accountability and sanctions for public agencies and individuals, reinforce quality management systems in construction projects undertaken by agencies, review the need for a policy to bring consultants under the ambit of public accountability, and review of community contract protocol. Further, the report recommends the Government cautiously regulate its current expenditure. 

 

The presentation on the Performance Audit Report on National Resources Development Corporation Limited highlighted Audit Objectives, Background on NRDCL including the Operational and Financial Performance, Audit Findings and Recommendations for consideration of review by the Public Accounts Committee of the Parliament. 

 

The presentations were followed by an intense question and discussion session. 

 

The AAR 2020-21 and the Performance Audit Report on Operations of NRDCL were tabled during the Joint Sitting of the Sixth Session of the Third Parliament and were referred to the Public Accounts Committee (PAC) for review. The PAC will report back to the Parliament in the next Session with its findings and recommendations. 

 

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