PUTRAJAYA, July 11 – The Dewan Rakyat has approved the Audit (Amendment) Bill 2024 following its second and third readings by Deputy Minister in the Prime Minister’s Department (Law and Institutional Reform), YB Tuan M. Kulasegaran a/l V. Murugeson. The bill, initially tabled on 27 June 2024 by YB Dato’ Seri Azalina binti Othman Said, aims to enhance public finance management and governance, updating the Audit Act 1957 for the first time in 33 years.
The amendments introduce new provisions and adjustments to existing ones, empowering the Auditor General to audit entities with government financial guarantees, conduct “Follow the Public Money” audits, issue necessary guidelines, address serious accounting irregularities, and follow up on audit recommendations. This reform is expected to positively impact the management of public funds and ensure that audit recommendations are seriously considered and acted upon. The bill is scheduled for presentation to the Dewan Negara by the end of July 2024.
