ISLAMABAD: USAID Power Distribution Improvement Program (PDIP)
Friday in a workshop kicked-off the new internal audit manual for power
distribution companies (DISCOs).
The new internal audit manual
shall improve DISCO operational efficiencies that will help reduce
cost, improve revenue and internal controls, and by assisting
prevention and detection of frauds and irregularities.
Chief
internal auditors of WAPDA, PEPCO, Auditor General of Pakistan and
additional chief auditors of DISCOs along with the representatives of
international auditing firms attended the workshop.
"Expanding
the scope of the internal audit manual and business processes for
compliance and internal controls over financial reporting will
significantly increase organizational accountability and result in
improved revenues and lower costs" Gary Bartlett, Finance expert of the
USAID Power Distribution Improvement Program said on the occasion "The
introduction of co-sourcing, whereby an external independent audit firm
will work alongside the DISCO internal audit staff, will provide much
needed technical skills, resources, training and independence to the
DISCO internal audit function"
"Our main objective is to assist
DISCOs in improving their performance and efficiency, therefore
internal audit manual revision shall help in achieving our objective"
Dick Dumford, Chief of Party of the USAID Power Distribution
Improvement Program said on the occasion "We are also working on
reducing energy losses and assisting with installation of technical
equipment in DISCOs which will bring improvement in revenue and
reducing energy losses"
MWP-USAID Power Distribution
Improvement Program (PDIP) is a three-year, USAID-funded program aimed
at working jointly with government-owned electric power Distribution
Companies(DISCOs) in Pakistan to improve their performance in terms of
reduction in losses, and improvement in revenues and customer services,
to bring them to a level of well-run utilities. Online
