Official highlights importance of role of auditors, global audit standards

FAISALABAD: Director General Audit Power Sheikh Nadeem Amjad has said that the role of auditors is very important to improve the performance of any organization and protect it from possible financial irregularities. It is the responsibility of the audit department to review the company’s accounts and prepare them according to international audit standards; he was addressing a review meeting held at the Faisalabad Electric Supply Company (Fesco) Headquarters here on Sunday.

He showed satisfaction over the Fesco’s accounts, audit and financial records and said that Fesco is taking measures to reduce losses and increase recovery while customer satisfaction are worthy of emulation.

Earlier, Chief Executive Officer (CEO) Fesco Muhammad Amir said that Fesco has achieved the targets set by National Electric Power Regulatory Authority (Nepra) in recovery and losses. Strong measures are being adopted to promote corporate culture in the company, in which the use of modern technology has been given priority. State-of-the-art regional Customer Services and mobile app “Fesco Light” have been introduced to redress consumers complaints and provide quality service to them.

He further said that Human Resources, Audit and Legal departments are being aligned with modern requirements. In order to provide the best services to the customers, significant investment has been made in the distribution system, the grid and lines have been upgraded. Fesco also follows modern and international standards in the audit department.

Chief of Audit Nazir Ahmed, GM Technical Aamir Mehboob Elahi, DG Admin Athar Ayub Chaudhry, PD Construction Abrar Ahmed, PD (GSC) Muhammad Rashid, Director (S&I) Syed Muhammad Saleem Shah, PD. (GSO) Rao Muhammad Ali, Staff Officer Abid Rasheed, and Superintending Engineers of Operation Circles were also present in the meeting.

Copyright Business Recorder, 2024