Public sector companies are ultimately accountable to? a. united nation b. prime minister c. finance minister d. parliament

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Posted by:
Wasim Khalil Mustafa Ali PMP®
19-April-2014

Accounting Corporate Law Financial Accounting

Question ajoutée par Md Jiyaul Abdula , Senior Project Accountant , Gate City Trading and Contracting
Date de publication: 2013/10/14

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par Khaled Abdelrehim ACCA DipIFR CMA , Financial Analysis Assistant General Manager , Khalda Petroleum Company

Prime minister

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par Muhammad Zubair , CFO / Chief Accountant , RH Group

parliament

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par Vinod Jetley , Assistant General Manager , State Bank of India

The Public Sector companies are accountable ultimately to their 'share holders' like any other company. The custodian of shareholders in case of public sector companes is the relevant department of the government(State or Union). However, the legislature ( State Assembly or Parliament) has the ultimate control as it can amend the act through which the PSU was created. Also, it can excercise control through the acceptance/rejection of CAG audit reports.

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