JAMMU, April 8 -- The Comptroller and Auditor General of India has flagged a significant backlog in the finalisation of accounts of Public Sector Undertakings (PSUs) and autonomous bodies in Jammu and Kashmir, with a large number of accounts pending as of March 31, 2024.

The audit authority urged the Union Territory government to strictly adhere to timelines for preparation and submission of accounts to improve financial discipline, transparency and governance.

The CAG warned that persistent delays undermine transparency and legislative oversight, stressing the need for companies, corporations and autonomous bodies to submit annual accounts within stipulated timeframes.

According to the report on UT finances for the year ended March 31...