KUALA LUMPUR: The Audit (Amendment) Bill 2024, which seeks to improve governance and accountability in the public sector, was presented for the first reading at the Dewan Rakyat sitting today.
The bill was presented by Minister in the Prime Minister's Department (Law and Institutional) Datuk Seri Azalina Othman Said. The second reading of the bill will also be during this Dewan Rakyat session.
The National Audit Department, in a statement, said the Act currently in force has not been amended since 1991.
"Amendments to the Act involve new provisions and changes to several existing provisions, namely auditing of other bodies, including companies where the government holds financial guarantees; auditing through the 'Follow The Public Money Audit' approach, subject to the Finance Ministry's public interest policy; powers of the auditor general to issue guidelines involving auditing; and carrying out follow-up audits on any proposals, observations or opinions in the Auditor General's Report.
"Through these amendments to the Act, it is hoped that governance will be enhanced and strengthened and enable more effective oversight of public funds to prevent leakages that may be detrimental to the government."