Kota Kinabalu: State statutory bodies have been urged to strengthen financial governance through proper accounting standards and compliance systems to ensure greater transparency, accountability and integrity in managing public funds.
Sabah Assistant Finance Minister Dato’ Sr Mohd Ishak Ayub said the implementation of Malaysian Public Sector Accounting Standards (MPSAS) and compliance with the Government Agencies Standard Accounting System (SAGA) were important in improving financial management practices among state statutory bodies.
He was speaking at the opening of the Financial Governance Strengthening Workshop for State Statutory Bodies through MPSAS Implementation and SAGA Compliance at Le Méridien Hotel here on Thursday.
The workshop brought together representatives from various state public agencies to improve their understanding of the accounting standards and strengthen financial governance in line with public sector management requirements.
Mohd Ishak said the adoption of proper accounting standards and compliance with established financial systems were essential to ensuring that public resources were managed in an orderly, transparent and accountable manner.
He expressed hope that participants would make full use of the workshop’s sessions and translate the knowledge gained into effective practices within their respective organisations.
He also reminded agency representatives to carry out their responsibilities with honesty, transparency and integrity, stressing that their duties involved safeguarding the interests of the Sabah Government and the people.
The implementation of MPSAS provides a common framework for public sector financial reporting, while SAGA compliance focuses on the accounting systems used by government agencies.
Together, these measures are intended to strengthen the reliability of financial information, improve internal financial management and support better accountability in the use of public funds.
For state statutory bodies, effective financial governance is particularly important in ensuring that resources entrusted to them are properly accounted for and managed responsibly.
Mohd Ishak said strengthening accounting systems and compliance with financial standards would also help enhance public confidence in the state administration.
The workshop formed part of efforts to improve financial management capabilities among state statutory bodies and encourage consistent practices in fulfilling their financial responsibilities.
He urged participants to apply the lessons from the programme in their daily duties, ensuring that transparency and integrity remained central to the management of public resources.
