Nearly seven years after starting to deploy a part of its corpus in the stock market through professional fund managers, the Employees’ Provident Fund Organisation (EPFO) has now decided to appoint an independent auditor to keep an eye on their investment transactions and report any deviations.
An official said the decision to appoint an external concurrent auditor who could “scrutinise day-to-day transactions by the portfolio managers” was taken prior to the current volatility in the stock markets, and was aimed at ensuring that the investment pattern and norms specified for EPF savings were followed strictly.
