Rawalpindi: The National Accountability Bureau (NAB) Rawalpindi has announced plans to issue comprehensive guidelines and standardised procedures to enhance audit quality in cooperative housing societies.
The move follows an AI-based audit conducted by NAB, which identified gaps and deficiencies in existing audit practices. During a consultative session with society managements, the Cooperative Housing Department, and relevant auditors, officials reviewed audit reports and highlighted shortcomings in financial, administrative, and legal assessments.
The analysis revealed that many reports focused mainly on recording land acquisition, membership deposits, and development expenditures, without offering a holistic evaluation of project progress, financial risks, or fund utilisation. NAB officials stressed that audits should go beyond procedural checks to ensure transparency, compliance, and protection of members’ funds.
Under the directions of Director General NAB Islamabad/Rawalpindi, Waqar Ahmed Chauhan, the bureau will introduce standardised procedures to improve consistency in audits, strengthen oversight mechanisms, and enable timely identification of irregularities.
Officials said the reforms aim to enhance accountability, ensure proper financial governance, safeguard members’ interests, and support the sustainable development of housing projects.
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