Aligarh: The Comptroller and Auditor General of India (CAG) has given a clean chit to the audit account of the Aligarh Muslim University (AMU) for the year 2009-2010 as it has not found any discrepancy in the accounts submitted by the University for final clearance by the agency.
The report of the Comptroller and Auditor General of India has thus negated the allegations of financial irregularities leveled by some vested interest.
The Comptroller and Auditor General of India observed in his audit report that proper books of accounts and other relevant records have been maintained by the University as required under Section 35(1) of the AMU Act 1920.
The report also specifically mentioned that the Balance Sheet and Income and Expenditure Account dealt with in this report are in the agreement with the books of account.
During 2009-2010, AMU received Grants/subsidies of Rs. 449.64 Crores. In addition to this, the University earned income from sales/services, Fees/subscription, investments, Publications, interest and other income to the tune of Rs. 17.68 crores.
CAG conducted audit in accordance with auditing standards generally accepted in India. An audit includes examining on a test basis, evidences supporting the amounts and disclosure in the financial statements.
An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall presentation of financial statement.