Auditor-General now empowered to audit GLCs
New Straits Times
November 2, 2024
In July, the Audit Act amendment bill was passed, significantly strengthening the Auditor-General’s powers. NSTP/FILE PIC
KUALA LUMPUR: The Auditor-General can now audit the accounts of 1,856 entities, including government-linked companies.
The National Audit Department (NAD) said the Auditor-General was granted authority to audit the entities starting Nov 1.
This follows the gazetting of the Audit (Accounts of Other Bodies) (Amendment) Order after it received royal assent.
Previously, only 925 entities which fulfilled the criteria under the Audit Act could be audited.
"In line with the implementation of this Audit Order, guidelines for the audit of GLCs are currently being developed by the NAD and will be issued shortly," it said in a statement.
Previously, Auditor-General Datuk Wan Suraya Wan Mohd Radzi said NAD will be auditing some 2,000 GLCs beginning next year.
In July, the Audit Act amendment bill was passed, significantly strengthening the Auditor-General's powers.
Prime Minister Datuk Seri Anwar Ibrahim, in tabling the 2025 Budget, said the NAD would be given an expanded role to initiate audits of companies and entities receiving government funds and guarantees.
KUALA LUMPUR: The Auditor-General can now audit the accounts of 1,856 entities, including government-linked companies.
The National Audit Department (NAD) said the Auditor-General was granted authority to audit the entities starting Nov 1.
This follows the gazetting of the Audit (Accounts of Other Bodies) (Amendment) Order after it received royal assent.
Previously, only 925 entities which fulfilled the criteria under the Audit Act could be audited.
"In line with the implementation of this Audit Order, guidelines for the audit of GLCs are currently being developed by the NAD and will be issued shortly," it said in a statement.
Previously, Auditor-General Datuk Wan Suraya Wan Mohd Radzi said NAD will be auditing some 2,000 GLCs beginning next year.
In July, the Audit Act amendment bill was passed, significantly strengthening the Auditor-General's powers.
Prime Minister Datuk Seri Anwar Ibrahim, in tabling the 2025 Budget, said the NAD would be given an expanded role to initiate audits of companies and entities receiving government funds and guarantees.
