Financial Statements Of Federal Govt 2024 Adequately Maintained, Updated - Audit Report

KUALA LUMPUR, Oct 6 (Bernama) -- The accounting records of the Financial Statements of the Federal Government for the year ended Dec 31, 2024, are adequately maintained and updated, according to a statement issued by the Auditor-General Datuk Seri Wan Suraya Wan Mohd Radzi.

In a statement issued following the tabling of the Auditor-General’s Report (LKAN) 3/2025 in the Dewan Rakyat today, Wan Suraya said the Federal Government’s overall financial performance in 2024 showed improvement, marked by a reduction in both the fiscal deficit and the deficit-to-Gross Domestic Product (GDP) ratio compared with 2023.

She said the Federal Government’s Financial Statements presented a true and fair view of the government’s financial position for the year, and accordingly, an Auditor-General’s Certificate with an Unmodified Opinion accompanied by a Paragraph on Other Matters had been issued.

“Last year, the Federal Government’s deficit decreased by RM12.224 billion to RM79.166 billion, compared with RM91.390 billion in the previous year.

“The deficit-to-GDP ratio also declined to 4.1 per cent, from five per cent in 2023, outperforming the 4.3 per cent target set under the 2024 Budget. This achievement provides a strong foundation towards meeting the medium-term fiscal deficit target of below three per cent,” she said.

Among the issues highlighted in the report, she said, was the forward operating base (FOB) project off Pulau Mabul, Semporna, Sabah, which had been planned since 2016 and approved under the Second Rolling Plan of the 11th Malaysia Plan. However, as of last July, the project had yet to be completed despite the original completion date being set for Nov 16, 2024.

She said the main issues identified included delays in the construction of the resettlement building (BPS), the main building, which, apart from the BPS, remained incomplete, as well as the construction jetty, which had yet to commence.

In addition, the National Audit Department has expanded its auditing coverage to 1,856 entities, including companies, through the e-SelfAudit System. The system leverages the latest digitalisation technology to enable all companies to be audited annually beginning this year.

“The three main elements audited are the achievement of the entity’s mandate and objectives, compliance with governance aspects, and financial performance,” she said.

She added that as of Dec 31, 2024, the Financial Statements of 13 state governments had been completed, with the Auditor-General’s Certificate with an Unmodified Opinion issued to four states - Melaka, Pahang, Penang, and Terengganu.

Meanwhile, the Auditor General’s Certificate with an Unmodified Opinion accompanied by a Paragraph on Other Matters was issued to nine states, namely Johor, Perak, Kedah, Kelantan, Sarawak, Sabah, Negeri Sembilan, Perlis, and Selangor.

The LKAN 3/2025 tabled in the Dewan Rakyat today after receiving the consent of His Majesty Sultan Ibrahim, King of Malaysia. It comprises 14 reports, including one at the federal level - the Federal Government Financial Statements for the Year 2024 - as well as reports on the activities of Federal Government ministries, departments, and companies.

The remaining 13 reports are state-level LKAN on the financial statements of the respective state governments and their agencies.

The federal-level LKAN 3/2025 will be uploaded on the National Audit Department website following its tabling in the Dewan Rakyat. The public will be able to access it starting from 10 am today via the links http://lkan.audit.gov.my and https://agdashboard.audit.gov.my.

Any enquiries or feedback regarding the report may be directed via email to jbaudit@audit.gov.my.

--BERNAMA