/akn/my/act/amendment_act/2024/A1720
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AUDIT (AMENDMENT) ACT 2024 is Malaysia Amendment Act, cited as Amendment Act A1720 2024, currently marked in force and first recorded in 2024.
Opening note
This Act comes into operation on a date to be appointed by the Minister by notification in the Gazette and the Minister may appoint different dates for the coming into operation of different provisions of this Act.
Amendment of section 5
The Audit Act 1957 [Act 62], which is referred to as the
“principal Act” in this Act, is amended in section 5—
in subsection (1), by substituting for paragraph (d)
the following paragraph:
“(d) the accounts of—
any other body, including a company registered under the Companies Act 2016
[Act 777], in receipt of a grant or loan from the Federation or a State;
a company registered under the Companies
Act 2016, where more than half of paid-up share capital of the company is held by the Federation, a State or a public authority or is so held in the aggregate by two or more of them;
any other body, including a company registered under the Companies Act 2016, in receipt of financial guarantee given by the Federation or a State; and
any other body, including a company registered under the Companies Act 2016, in receipt of public moneys if the Minister of Finance is satisfied that the public interest urgently requires that the accounts of any such body shall be examined, inquired into and audited by the Auditor General:
Provided that the Yang di-Pertuan Agong so specifies by order under Clause (2) of Article 106
of the Federal Constitution and notwithstanding any law relating to the audit of the accounts of any such body;”;
Audit (Amendment)
in subsection (2), by substituting for the words
“, (c) and (d)” the words “and (c) and subparagraphs
(i), (ii) and (iii)”;
in subsection (3), by inserting after the words
“in accordance with” the words “subparagraph (1)(d)(iv)
and”; and
by inserting after subsection (3) the following subsection:
“(4) For the purposes of subparagraph (1)(d)(iii),
“financial guarantee” shall have the same meaning assigned to it in the Public Finance and Fiscal
Responsibility Act 2023 [Act 850].”.
New section 7a
The principal Act is amended by inserting after section 7
the following section:
“Power to issue guideline 7a. The Auditor General may issue any guideline as may be necessary or expedient for the purpose of carrying out the provisions of this Act.”.
Amendment of section 9
Subsection 9(4) of the principal Act is amended by inserting after the words “the head of that public authority” the words
“, and the Auditor General may make any recommendation to address such irregularities”.
New section 9a
The principal Act is amended by inserting after section 9
the following section:
“Follow-up audit 9a. (1) The Auditor General may conduct a follow-up audit to review the action taken by the Federation, a State, a public authority or specified body on any recommendation, comment or observation made by the Auditor General in the audit report under section 9.
The Auditor General may at any time submit a report on the follow-up audit conducted under subsection (1)
to the Yang di-Pertuan Agong, and may submit a copy of such report to the Ruler or Yang di-Pertua Negeri of a State or to a Minister.”.