M.Krishnamoorthy
A media coach, adjunct professor and author
The Auditor-General’s Report reports losses by government agencies annually, which is the taxpayer's money going to be wasted.
The report revealed that ten federal agencies have loan balances amounting to RM 122 billion for 2022.
This year, Auditor-General Datuk Wan Suraya Wan Mohd Radzi said her office introduced a dashboard for the public to see who is doing poorly and why. This is also to ensure that audited federal agencies can take appropriate action to improve their financial statement preparation in the future.
She is proactive and has developed the Auditor-General's Dashboard (AGD) online platform starting this year.
Through AGD, all types of Auditor-General's certificates on Federal Agencies' Financial Statements will be displayed, according to Bernama as reported in The Star.
"The display via AGD demonstrates the importance of good governance through principles of transparency, accountability, efficiency, and effectiveness in addressing audit findings," she said through the Auditor-General's Report on Federal Agencies' Financial Statements for the Year 2022 presented in the Dewan Rakyat on Wednesday (March 6).
The objective of the AGD is to ensure that agencies' audit units take immediate action on the issues raised in the Auditor General's Report (LKAN), thus resolving outstanding issues. It also aims to inform the public online about LKAN issues concisely and accurately and promote transparency.
It is also a pressure trigger to speed up the resolution of issues raised in LKAN. To further improve public perception of the Auditor General’s report.
Wan Suraya said that as of Jan 11, 140 out of 144 Federal Agencies' Financial Statements for 2022 had been submitted for the Auditor-General's verification, with 130 statements being audited and certified.
The Star reported that 116 Federal Agencies' Financial Statements for 2022 have been issued Auditor-General's certificates without reprimand. While 14 Federal Agencies' Financial Statements have been issued Auditor-General's certificates with Modified Opinions, comprising 13 Adverse Opinions and one Disclaimer of Opinion.
She said financial statement analysis has been used to assess the financial performance of federal agencies based on five aspects: Current Excesses and Deficiencies, Assets and Liabilities, Federal Government Grants, Loans, and Investments in Subsidiary Companies.
For the first time, Wan Suraya said this year's report also included an analysis of subsidiary companies experiencing losses for three years starting from 2020.
"The introduction of Key Audit Area Reporting in 2023 for auditing Federal Agencies' Financial Statements for 2022 emphasises material and significant matters affecting federal agencies' financial position and performance.
"The Key Audit Areas for the 2022 financial statements are related to issues of going concern, valuation of investments, and dividend payments to contributors. This is in line with strengthening governance in the federal agency administration management system, including addressing issues of inefficiency, wastage, and extravagance," she said.
Freelance Writer M. Krishnamoorthy (www.imkrishna.net) is a media coach, adjunct professor and undercover journalist. He has freelanced with Bernama, NST, The Star, and Malaysiakini. He also freelances as a fixer/coordinator for CNN, BBC, German and Australian Television networks and the New York Times. As an undercover journalist, he has highlighted society's concerns.
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