CPCL organized a meet of audit committee with statutory auditors at Puducherry followed by a meeting of the Management with statutory auditors to discuss the audit observations by statutory auditors. This initiative has been taken, with a view to strengthen a healthy reporting practice between the Audit committee and auditors. In furtherance of best corporate governance practices, a separate meeting of independent directors was also held.
Shri Liton Nandy, ED (CO-IS) and Shri Sandeep Kundu, CGM(CO-IS) made a presentation to the Statutory Auditors and explained the SAP systems Audit report of IOCL and the comprehensive scope therein of the audit process, which by design covers CPCL also.
CPCL is also planning to initiate voluntary implementation of Integrated Reporting of financial statements. A presentation in this regard was made by M/s Deloitte.
Shri Arvind Kumar, Managing Director, Shri Rajeev Ailawadi, Director (Finance), Shri S. Krishnan, Director (Operations), Shri. H. Shankar, Director (Technical), Sri S. Venkateswaran, CGM (Finance) participated in the deliberations.