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সর্ব-শেষ হাল-নাগাদ: ৩০ মার্চ ২০২৩

Internal Audit & Control


The Company has robust internal systems and processes in place for smooth and efficient conduct of business and complies with relevant laws and regulations. A comprehensive delegation of power exists for smooth decision making which is being further reviewed to align it with changing business environment and speedier decision making. Elaborate guidelines for preparation of accounts are followed consistently for uniform compliance. In order to ensure that all checks and balances are in place and all internal control systems are in order, the Company’s internal Audit Department conducts an exhaustive internal audit regularly to all the offices under the Company. The Audit Team raises observations relating to irregularities to develop the internal control system etc. Accordingly, the Auditee takes necessary action to settle the same. If the replies are not satisfactory, it is reported to the management immediately for action. Besides this, the Company’s internal Audit Department plays a vital role in settlement of government audit objections. The Audit Department of the Company functionally reports to the Company’s Audit & Finance Committee. The Company’s Audit & Finance Committee guides the internal audit. 


The Company has four Board committees viz. Administrative Affairs Committee, Legal Affairs Committee, Audit & Finance Committee, and Technical & Engineering Committee on management controls to keep a close watch on compliance with internal control systems.


Role of the Audit & Finance Committee:

The Audit and Finance Committee’s authorities, duties and responsibilities flow from the Board’s oversight function. The major responsibilities of the Committee are delineated below.


  1. Reviewing the quarterly, half-yearly and annual financial statements and other financial results of the Company and, upon its satisfaction of the review, the Committee recommends them to the Board for approval.
  2. Reviewing the revised revenue budget, capital expenditure budget, and project development budget of the current year and proposed revenue budget, capital expenditure budget, and project development budget of the next year, the Committee recommends them to the Board for approval.
  3. Monitoring and reviewing the adequacy and effectiveness of the Company’s financial reporting process, internal control and risk management system.
  4.  Recommending to the Board the appointment, re-appointment or removal of external auditors.


 Reviewing and monitoring the Company’s ethical standards and procedures to ensure compliance with the regulatory and financial reporting requirements.

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