Jammu, April 8 -- The Comptroller and Auditor General (CAG) has flagged a massive backlog in the finalisation of accounts of Public Sector Undertakings (PSUs) and autonomous bodies in Jammu and Kashmir, with large number of accounts remaining in arrears as on March 31, 2024. The CAG urged the UT government to ensure strict adherence to timelines for preparation and submission of accounts to strengthen financial discipline, transparency and governance. The audit panel warned that the persistent backlog undermines transparency and legislative oversight, and recommended that the government ensure companies, corporations and autonomous bodies submit their annual accounts within a stipulated timeframe.
The CAG report on Union Territory (UT) fin...