Thursday, October 18, 2012

69.8% Federal departments failed to comply financial standards

69.8% Federal departments failed to comply financial standards
Hidden in the Auditor General’s latest annual report is a shocking statement stating that 69.8 percent of the 301 Federal government departments audited have failed to comply with national financial regulatory standards.
Indera Mahkota member of parliament Azan Ismail (pic) suggested this could be the reason for the delay in releasing the report, some two weeks after the 2013 Budget was tabled by prime minister Najib Razak.
“It unreasonable to claim that the delay in releasing the report had been due to incomplete auditing. AG has confirmed that the audit report had been completed since June 12,” he explained.
Azan said the AG had on July 12 signed off the report on ministries and Federal departments’ financial statements and fiscal management.
The compilation of ministries and departments’ activities for 2011 meanwhile was completed on July 25.
Azan also pointed out that the weaknesses reported in the latest report were similar to past findings.
“I believe this is the reason why the report was delayed in its release because the government did not want the AG’s criticism to be known earlier and form part of the 2013 Budget debate,” he said.
Minister in the Prime Minister's Department Nazri Aziz had defended the delay in the Report's release, saying it was meant to prevent it from eclipsing the 2013 Budget.

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