MARDAN: An audit report has highlighted financial irregularities worth Rs5.956 million in the account of deputy commissioner office in Mardan.
The report has pointed out the lack of financial control and the breach of government guidelines regarding fund management.According to the audit report for financial year 2023-24, government funds were kept irregularly in the account of the Bank of Punjab against the instruction of the Finance Department Khyber Pakhtunkhwa.
It is evident from the guidelines that funds must be placed in the account of either Bank of Khyber or National Bank of Pakistan. In the audit report, it came to light that the profit generated from government funds worth Rs5,955,507 was not deposited in the government treasury. On the contrary, this profit was transferred to a bank account of Bank of Punjab, which showed the lack of financial control and compliance with government directives. Financial irregularity has been attributed to the laxity of the internal control system, which caused the government funds to be irregularly invested in the Bank of Punjab and the profit from such investment has not been transferred to the government treasury. At the time of pointing out the issue in July 2024, the management had assured the auditor about depositing the profit amount in the government treasury.No substantial action was observed till the conclusion of the audit.
