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THE ACCOUNTING FRAUD, “INFLATING PROFITS ” “ACCOUNT FUDGING” IS A CRIME

 
 
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THE ACCOUNTING FRAUD, “INFLATING PROFITS ” “ACCOUNT FUDGING” IS A CRIME
by System Administrator - Friday, 10 April 2015, 11:50 AM
 

By: M.S.Yatnatti: Editor and Video Journalist Bangaluru: Account fudging is everywhere why only in private sector. State-run power firm National Thermal Power Corporation, or NTPC, overstated its profits by Rs938 crore in 2007-08, the Comptroller and Auditor General of India said in a report, but categorically stated that chances of Satyam like frauds in PSUs are very remote.The report, which was tabled in Parliament , said PSUs Bharat Electronics Ltd and BEML also overstated their profits by about Rs61 crore and Rs3.06 crore respectively in 2007-08 fiscal year. The corporate ministry should bring in a common policy to make accounts transparent. Time is ripe .Bring corporate which runs on public money and which are listed under the ambit of RTI Act.