23 May 2004	Sunday	03 Rabi-us-Saani 1425

Apropos of the news item 'Probe likely into IBA's financial irregularities', appearing in Dawn's May 22 issue, the IBA's director of administration has sent a clarification saying that all audit authorities invariably use the term "irregularity" in their reports for apparently unclarified deviations from policy of the department concerned or government rules and regulations.

According to the IBA official, the IBA Act 1994 requires an audit report to be produced in the board of governors meeting for their decisions. The report is, therefore, scrutinized by a committee to help the competent financial authority, ie, the board of governors in case of the IBA, to arrive at the right decision. Technical experts outside the IBA jurisdiction may be coopted on the committee, subject to their availability, in an advisory role. "It is all a routine matter in good organizations, and the IBA follows the same practice."

Original Story: Probe likely into IBA's financial irregularities