Dept completes audit of 145 financial statements for FY16

27 Nov 2017 / 19:06 H.

    KUALA LUMPUR: The National Audit Department has completed the audit of 145 financial statements for the financial year 2016 (FY16) from federal statutory bodies, Federal Consolidated Fund, Pensions Trust Fund and other agencies this year.
    According to the Auditor General's 2016 Report (Certification of Financial Statements of Federal Statutory Bodies, Federal Consolidated Fund, Trust Fund and Other Agencies), the department has validated 143 of the 145 financial statements.
    Two financial statements reported by the Bintulu Port Authority and Board of Geologists Malaysia could not be verified due to late submission and incomplete supporting documents, it said.
    It said the department had carried out the audit on 28 financial statements for FY2016, while the other 117 financial statements were done by a private audit firm.
    Among others, the extract of the report said total revenue from 126 Federal Statutory Bodies under 23 ministries came to RM109.23 billion, which represented an increase of RM7.063 billion or 6.9 per cent compared to RM102.17 billion in 2015.
    The federal statutory bodies recorded a total surplus fund of RM46.41 billion compared to RM42.39 billion in FY2015, it said.
    They recorded RM1.74 trillion in assets, which represented an increase of RM129.31 billion or eight per cent compared to RM1.61 trillion in 2015, adding that the federal statutory bodies also registered RM144.01 billion in liabilities in FY16, which represented a RM5.515 billion increase or four per cent compared to RM138.51 in 2015.
    Meanwhile, it said, the total revenue from nine Federal Consolidated Funds and Trust Funds had decreased to RM1.15 billion or 41.1 per cent, from RM1.99 billion 2015.
    It said the total surplus funds from 10 Federal Consolidated Funds and Trust Funds amounted to RM330.47 million, which represented a decrease of RM4.30 million compared to RM334.77 million in 2015.
    The report said the 10 Federal Consolidated Funds and Trust Funds recorded RM20.889 billion in assets, which was an increase of RM1.16 billion or 5.9 per cent compared to RM19.73 billion in 2015.
    They registered RM1.04 billion in liabilities, which represented a decline of RM8.43 million or 0.8 per cent, compared to RM1.05 billion in 2015, it said. — Bernama

    thesundaily_my Sentifi Top 10 talked about stocks