KUALA LUMPUR — Aug. 6, 2018: The level of financial performance of 25 ministries for last year was rated as overall good, with all of them receiving marks of over 70 per cent.
According to the Auditor-General’s Report on the Federal government’s Financial Statement and Financial Management of Ministries/Departments/Statutory Bodies, seven ministries were rated excellent (90 to 100 per cent), 16 good (80 to 89.9 per cent) and two satisfactory (70 to 79.9 per cent).
On the other hand, the state of financial management at 18 departments audited annually showed 13 at the level of excellent and five good, while of 21 statutory bodies, two were excellent, 12 good, five satisfactory and two unsatisfactory.
However, there were a number which have to enhance and tighten internal controls in financial management, so that the issues raised are not repeated, while also reducing the risk of more serious non-compliance.
The report encourages heads of departments to undertake spot checks not less than once every six months on every safe, strong room, cash box, drawers or any other repositories used to store money under the care of an officer in the department, also entrusted with the safe keeping of public money, stamps or other valuables. — Bernama