KUALA LUMPUR – The Audit (Amendment) Bill 2024 to amend the Audit Act 1957 (Act 62) was presented for its first reading in the Dewan Rakyat today.
The bill was tabled by Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said, following the end of the oral question-and-answer session.
The amendments to Act 62 involve the creation of new provisions and amendments to several existing provisions, including Section 5, to expand the powers of the Auditor-General (A-G) to examine, investigate and audit the accounts of any other bodies.
This includes companies registered under the Companies Act 2016 (Act 777) that receive financial guarantees from the federal or state government.
Azalina said the second and third readings of the bill are scheduled for the same meeting.
Meanwhile, the Auditor-General’s Department said in a statement today that the bill was drafted to further empower the role of the A-G in line with the Madani government’s initiative to enhance governance and accountability in the public sector.
According to the department, the amendments to Act 62 include provisions regarding the authority of the A-G to issue any guidelines involving audits and conduct follow-up audits on any recommendations, observations or views provided in the A-G’s report.
“Through these amendments to Act 62, it is hoped that governance will be improved and strengthened, allowing for more effective oversight of public funds to prevent leakage detrimental to the government,” the statement said. – June 27, 2024