The Comptroller and Auditor General (CAG) has raised concerns over a substantial backlog in the finalization of accounts for Public Sector Undertakings (PSUs) and autonomous bodies in Jammu and Kashmir. As of March 31, 2024, many accounts remain in arrears, with some pending for as long as 14 years. The CAG's report highlights that only four companies had their accounts audited up to the fiscal year 2022-23, while 35 companies and corporations have 139 accounts in arrears ranging from one to twelve years. Notably, the Jammu and Kashmir Overseas Employment Corporation Ltd leads with 12 pending accounts since the fiscal year 2010-11. Other significant defaulters include Jammu and Kashmir Minerals Limited and several inactive companies, each with nine years of arrears. The CAG has urged the Union Territory government to enforce strict adherence to timelines for account submissions to enhance financial discipline and transparency. The report also indicates that delays prevent legislative scrutiny of government investments, thereby weakening accountability and hampering timely corrective measures.