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Government is to overhaul the entire financial management of the Sports Authority of India (SAI) in view of allegations of financial irregularities against it. Replying to a question in the Rajya Sabha today, the Minister of state in the Prime Minister’s Office, Shri Prithviraj Chavan said the working of SAI needs to be improved substantially in order to bring back the original glory of the apex body set up to help the nation achieve excellence in national and international sports events. The Minister informed the house that several measures are being taken to streamline the financial operations of SAI. These include:
i) Compilation of all accounts on mercantile system(accrual basis)from 2004-2005.
ii) Steps towards proper maintenance of account books
iii) econciliation process for security/earnest money
iv) Uniform formatting of accounts in different SAI centers
v) Training of accounts staff
SAI has also been directed to take the assistance of a professional financial agency to streamline the financial operations.
M/S N.C. Mittal & Co. who conducted statutory audit during 2000-2001, 2001-2002 and 2002-2003, have written a letter to the government which contains allegations of corruption in SAI and mentions having pointed out 20 big frauds. However, the audit reports of these years by the company do not mention any fraud. Bringing out the financial and accounting irregularities the auditors also observed that the account books at SAI and its centers were not being maintained properly.
On the issue of large scale transfers of SAI coaches, the Minister said it was not a vindictive action as alleged by some but an effort to move those who were staying at one center for a long time.
PRA
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