PPP Audit of Infra Project - Importance and Implication
Purnima Bajpai, Reliance Infrastructure, Pune.
Scope of Public Private Partnership Audit
A contentious issue in the context of PPP arrangements and their audit relates to the scope of audit by Supreme Audit Institutions (SAI), in view of the following:- The government or the public sector partner is usually only a minority partner /shareholder or will have only minority participation in the PPP arrangement, with the private sector partner controlling the majority stake.
- Most of the funds are brought in by the private sector partner.
- The construction, management and operational risks are transferred to the private sector partner.
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Published in: NBM&CW March 2014
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