PUTRAJAYA: The National Audit Department will focus on three key elements- financial statements, company objectives and corporate governance - when conducting audits of 1,856 entities, including government-linked companies (GLCs), starting next year.
Auditor-General Datuk Seri Wan Suraya Wan Mohd Radzi said all government companies, including Special Purpose Vehicles (SPVs), should be prepared with relevant documentation and data for submission and auditing.
"We will examine the financial statements and the objectives behind the establishment of each company, as sometimes we know what an entity is supposed to be, but a few years down the line, it may become something else,”
"Governance aspects, such as the distribution of bonuses and the appointment of board members, will also be assessed,” she said during the ‘Integrity Forum: Governance and Ethical Administration from the Auditor-General's Perspective’ session here on Wednesday (Nov 20).
She also said that all entities would be audited using the digital system developed by the department.
"If an entity has never been audited before, it should be ready to undergo an audit at any time.
"The most important thing is the readiness of all entities with their documentation. If there are no issues, it will just be a regular audit, but if we detect any serious irregularities, we will highlight them,” she said.
Wan Suraya said her office would strengthen the Follow-up Committee on the Auditor-General’s Report to ensure that all recommendations and concerns raised in the report are taken seriously by the relevant parties.
This initiative, she said, was made a priority following the amendment of the Audit Act 1957 (Act 62).
"Our priority is that when the report is published, it should not go without follow-up actions. This is why, with the amendment to the Act approved in July, a new approach is to place greater emphasis on audit follow-ups.
"We are strengthening the report’s Follow-up Committee. The focus is to address any issues raised in the report, thus eliminating the perception that there is no follow-up when, in fact, there is,” she said.
Wan Suraya also said that the department would work closely with enforcement agencies such as the Malaysian Anti-Corruption Commission (MACC) and the Royal Malaysia Police to take the appropriate follow-up action. - Bernama