Financial Statements: Audit Dept Submits Three Recommendations To Govt

KUALA LUMPUR, Oct 10 (Bernama) -- The National Audit Department has submitted three recommendations to the government for the Financial Statements of the Federal Government for the year ended Dec 31, 2022.

Auditor-General Datuk Wan Suraya Wan Mohd Radzi said the recommendations included strengthening public financial discipline for effective operational spending, enhancing sustainable revenue generation and monitoring the commitments towards repayment of matured debts.

“Secondly, to ensure that the Development Fund should be used to finance physical and non-physical projects which fall under the five-year Malaysian Development Plan.

“Thirdly, to ensure that each reporting and changes in the items of the financial statements are in accordance with Government Accounting Standards and financial regulations in force,” she told a press conference at the Parliament building today.

Based on the executive summary of the Auditor-General’s Report (LKAN), these recommendations were important to ensure that the surplus of net operating balances is sufficient to finance development expenditures and to lessen dependency on new borrowings.

Wan Suraya also said Malaysia showed a promising outlook on its road towards economic recovery post-pandemic, with this year’s LKAN exhibiting a stable and increased financial performance.

“... all in all, it is much better than last year. It is stable, and I think if we keep on paying our debts and we have to pay our debts, while at the same time (earning) more money and more money is allocated for the development expenditure, I think it is a road to recovery. We look forward to what the Finance Ministry (MOF) will table this Friday.

“It is also what we envisioned and what we, as the National Audit Department, are continuing to push for MOF to make sure there is more allocation for the Development Fund while, at the same time, you manage your debts,” she said.

The LKAN was tabled in Parliament after receiving consent from Yang di-Pertuan Agong on Sept 26. It contains 15 reports involving two at the federal level, namely the Financial Statements of the Federal Government for 2022 and the Financial Statements and Compliance Auditing of Federal Agencies 2021.

Others are state-level LKAN involving State Governments and State Agency Financial Statements as well as Compliance Auditing of State Ministries/Departments/Agencies 2022.

-- BERNAMA