The 9th co-ordination meeting of RAA, Internal Audit Units (IAUs) and the ACC was conducted on 3rd June 2010 at MoIC conference hall. This forum that meets bi-annually was instituted in 2006 to create a common platform whereby Internal Auditors can share experiences, expertise, techniques and clarify issues related to internal auditing services and also to promote professional relations between the institutions as a strategy towards mainstreaming anti-corruption measures.
The primary focus of ACC’s presentation was red flags in contract administration. Taking 25% of the total plan outlay of Nu. 146 billion as allocation for construction and considering a conservative estimate of 10-20% of the construction budget as wastage, government would lose about Nu 0.6- 1.6 billion per annum. Total 10th five year plan budget allocation to the Geog is Nu. 4.8 billion.