"Public Fund Management Accountability"
Info: Under the leadership of the Ministry of Finance (MOF), this initiative is dedicated to
strengthen fiscal governance, combating misuse of public fund, and fostering integrity in
national resources.
Initiatives:
1. Government Procurement Bill
A new bill is being formulated to enhance transparency, integrity and efficiency in the Government procurement process.
2. Amendment to the Audit Act 1957 [Act 62]
The Act has been amended and passed by Parliament in July 2024 to enhance the role and powers of the Auditor General (AG) in managing public funds and ensuring accountability. This include audit the accounts of any body, including companies registered under the Companies Commission of Malaysia (SSM) that receive government funding to be subject to audit.
3. Implementation of the Public Finance and Fiscal Responsibility Act 2023 [Act 850]
Public agencies are now required to comply with Act 850 to ensure a more disciplined, transparent and structured approach to public fiscal management.
4. Comprehensive Promotion of Act 850
Act 850 is being actively promoted at the federal and state levels to strengthen understanding and compliance among international credit rating agencies, financial institutions such as the IMF and World Bank and academic institutions
5. Periodic Assessments and Reporting
Regular evaluations and reporting mechanisms will be implemented to assess the effectiveness of public fund management across Government agencies and support continuous improvement.
Ahli-ahli:
• Kementerian Kewangan (MOF) (Peneraju)
1. Jabatan Audit Negara (AUDIT)
2. Unit Kerjasama Awam Swasta (UKAS), JPM
3. Bank Negara Malaysia (BNM)
4. Unit Penyelarasan Pelaksanaan (ICU), JPM
FG 2 ini bertanggungjawab untuk memantau survei dari institusi berikut:
Economic Intelligence Unit Country Risk Ratings
- Global Insight Country Risk Rating