Currently , after a long time, we are witnessing some debates and discussions on “Audits”.. thanks to some startling revelations by ex CAG, Mr . Vinod Rai. Reading his book, indeed was a pleasure for a professional auditor like me . The book set my thoughts rolling

There are broadly two types of “Wrong Doings” which are revealed

1… That the Revenues have been under recovered , which can lead to huge Undue Enrichment of Private sector entities, and
2… That there are Excessive, unjustifiable expenses, leading to huge Undue Enrichment of Individuals/ corporates

now , here is a “Heads I Win and Tails You Lose ” type of situation.

If you plug the loopholes in revenue collection, than the funds get exposed to undue spending from the Government exchequer ! There seems to be a game of “Catch Me If You Can”, going on against the Auditors , not only in Public Sector , but also in the Private Sector. This is really demoralizing and frustrating in deed.

so what do we gain ? We need to plug all loopholes . This takes us to the basic moral fabric of the society .Unless that is strengthened, even thousands of Vinod Rais will get frustrated .