The National Audit Department will conduct audits on nearly 2,000 government-linked companies (GLCs) starting this year after continuous governance misconduct, says Datuk Seri Anwar Ibrahim.
The Prime Minister said this was due to governance issues found in GLCs such as weaknesses in KPIs, incompetent CEOs, persistent losses, profits not being returned to the government and major decisions made without approval of the board of directors of the GLCs.
Read more at https://tinyurl.com/4xb4muhx
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
The Prime Minister said this was due to governance issues found in GLCs such as weaknesses in KPIs, incompetent CEOs, persistent losses, profits not being returned to the government and major decisions made without approval of the board of directors of the GLCs.
Read more at https://tinyurl.com/4xb4muhx
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
Category
🗞
NewsTranscript
00:00Today's event is not an ordinary one.
00:05It is a result of our commitment to reform the public sector.
00:15It also emphasizes an integral aspect,
00:21the foundation of the civil government,
00:25which is the governance of the government,
00:28the governance of the government's finances,
00:31and the governance of the governance of the government.
00:34There has been progress,
00:37there have been steps taken since long ago,
00:40but we have witnessed a gap.
00:45The issue of integrity,
00:47the issue of transparency,
00:49the issue of responsibility or accountability
00:54in the government,
00:57and also in the governance of the government.
01:01The issue of accountability,
01:03as I have said before,
01:06is not a new thing.
01:08Alhamdulillah, this country is doing well.
01:12But believe me,
01:15the country, in the history of mankind,
01:20can be elevated because of values,
01:23virtues,
01:24pure intentions,
01:26and good governance and rules of conduct.
01:30That can be elevated.
01:32But as long as we accept as a culture,
01:36sloppiness,
01:38laziness,
01:39allowing corruption to happen,
01:46it will weaken confidence
01:50and weaken the will to be a nation.
01:55That's why I take this initiative seriously,
02:02including the auditing of government companies,
02:05as something that leads to a better direction.
02:09The weakness of the governance
02:12regarding the achievements of the past
02:20has led to repeated problems.
02:24I have been familiar with the report of the head of state
02:28since I became the Prime Minister.
02:33Then, the head of state held on to it,
02:37and investigated it.
02:39But what I regret is that
02:45some of the reports of those problems
02:49were repeated.
02:51Because,
02:53whether it was the head of state,
02:55the head of government,
02:56or the head of governance,
02:58they did not see it as a serious accusation
03:02that forced us to take measures.
03:06And today, when we launch this plan,
03:13the decision of the task and authority of the State Audit Office,
03:20it involves auditing of almost 2,000 government companies.
03:30Of course, for the GLIC,
03:32the situation is different.
03:34Because there has been an internal audit,
03:37and the audit,
03:39and I have asked the head of state
03:41to look at the audit report first,
03:45and whether there is a need to enter,
03:48if there is a delay or a big event.
03:55If not, it is not our intention
03:58to interfere because they are also connected
04:03with,
04:07first, the face-to-face audit,
04:11and secondly,
04:13the responsibility as a company
04:16in the stock market.
04:18I understand the sensitivity,
04:21but I want this power
04:24to allow the audit office
04:28to look at the companies
04:31and there is a detailed analysis.
04:34There are companies that are monitored by the head of state.
04:38It is impossible for a head of state to be able to fully investigate,
04:44other than what is done by the offices,
04:46but I believe that with the achievements
04:50and the talk shown by the state audit office,
04:55I feel more comfortable for them to give an early view
05:01so that I can understand more.
05:05Then we are now approaching the e-sell audit system
05:10which also uses artificial intelligence or AI
05:16which has been started since November 2024.
05:21And what is special is that
05:25this technology has been developed
05:29in-depth
05:31through the JAN digitalization project
05:35without additional costs.
05:37But what we want to emphasize is that this company
05:41returns to its original function,
05:43do not be arrogant,
05:45do not have a degree that violates the principle of governance,
05:49and what else is a mistake in terms of audit.
05:54But that is my hope for the state audit office
05:59and all the authorities.
06:01And I hope that GLEEKS will accept this as a new effort
06:10to remind them about the principles of governance,
06:15the basics of governance,
06:18and a reminder so that with all the power and strength
06:23they have,
06:24they are still monitored and must continue to be responsible.
06:31May peace be upon you.