RIL suggests CAG audit for 2 years at one go

MUMBAI: Reliance Industries’ (RIL’s) love-hate relationship with the federal auditor, the Comptroller and Auditor General (CAG) of India, is unlikely to get over the issue of financial audit versus performance audit.
Having submitted the audit report for 2008-2012 on RIL’s KG D-6 block, CAG has sought to audit the field’s books for 2012-13. RIL has responded by suggesting inclusion of 2013-2014 also in the audit’s ambit.But, the company wants the audit to be conducted strictly according to the provisions of the production sharing contract (PSC), which does not allow ‘performance audit’ of the contractor.
RIL’s reservations come from the fact that CAG’s final audit report on KG-D6 for 2008-12 has raised issues with respect to procurement, tendering, pricing and PSC, not falling under the preview of financial audit.