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Wednesday, March 1, 2017

A 'rubber-stamp' auditor-general is just what 1MDB needs



YOURSAY | ‘Isn't there a qualified and morally upright accountant available in this country to fill the post?'
Prudent: Writer Steve Oh is a bit out of his depth if he thinks that the auditor-general's duties are like the mere external auditor that apparently he was - that is, limited to "lend credibility to the published statutory financial reports".
The auditor-general's duties are also to verify the integrity and efficiency/economy of the financial management of the government/corporation.
Such verification goes beyond just the credibility of the financial/statutory reports. Such reports although true and fair, may not reflect the integrity, efficiency/economy of the financial management thereof.
Personally, I am not too hung-up on the academic qualifications of the auditor-general so long as those below her are suitably qualified. But she should be seen as independent and beholden to no one, which she is apparently not.
As for the May 13, 1969 'conspiracy', then-premier Tunku Abdul Rahman was gradually fulfilling the agenda of the extremists while portraying himself as moderate. But he too moved slowly.
The economy was fast diversifying, growing in complexity and out of reach of the ultras, undermining their agenda. Economic growth was bringing prosperity even to the Malay kampungs and gradually undermining their message that the Malays were being 'trampled upon'.
The review of the constitutional special provisions for the Malays was scheduled for 1972, ie 15 years after independence. At 5-6 percent compounded growth rate since independence, the economic basis was set for the scaling back at least partially of those provisions.
This would undermine the political relevance of the ultras. The electoral setback of the Alliance in 1969 was a reflection of dissatisfaction with its management of an increasingly complex economy. It also gave the ultras the opening to strike for survival, likely also encouraged by external interests.
Anonymous #13291217: Steve Oh, Ambrin Buang, the former auditor-general, was neither an auditor nor an accountant.
He was a PTD (pegawai tadbir dan diplomatik) officer like his successor, Madinah. Did you ever criticise him then?
Awang Top: Ambrin Buang has degree in economics and a degree in international business from the United States. Those qualifications were sufficient.
He also served in various capacities in international trade and industry, and as advisor to various businesses.
Would you compare him with Madinah?
Warrant Addict: We also overlooked Ambrin because during his appointment, there was no mega scandal like the RM2.6 billion scandal, 1MDB and what not.
But now we have a different scenario.
Anonymous #03815719: Everybody must ask Prime Minister Najib Razak, isn't there a qualified and morally upright accountant available in this country to fill the post of auditor-general?
The new appointee, Madinah Mohamad, is unqualified. Period.
FairMind: Hasn't it been obvious? An accountant from a reputable professional body would be answerable and liable to his/her own professional body for his/her unprofessional conduct. As a result, he or she can't be negligent, biased, dishonest or sloppy in his or her work.
In contrast, if Madinah - who graduated with a degree in political science - should be negligent, biased, dishonest or sloppy in her audit work, which accounting bodies would reprimand her?
Existential Turd: Yes, it makes perfect sense to hire a non-professional to head the Auditor-General’s Office when the job is to not uncover, but to overlook accounting malfeasance.
Telestai!: Malaysia always talks about being world-class in this and in that, but the reality is, it hires third or fourth rate people into high positions.
These top positions include CEOs of GLCs (government-linked companies), heads of government departments and ministries.
Every appointment is political and the appointees are what the Malays call ‘pak turuts’, people who take instructions from the top.
Ever wonder why Malaysia's passenger aircraft disappears without a trace, why it faces repeated power blackouts, water cuts, uncollected rubbish, sub-standard services, financial fraud, system failures, and high crime and accident rates?
NNFC: Obviously, this is a deliberate move to ensure the thieves are not caught. We wonder if the government cares about public perception, and if it is interested to ensure good governance.
As a citizen, I see our nation being raped of its wealth.
Dont Just Talk: When leaders do not lead by example, there is nothing uncommon for a non-accountant to be appointed the new auditor-general.
After all, when they appointed the former Negri Sembilan MB Mohd Isa Abdul Samad to be the chairperson of Felda, it was catastrophic for the country's largest oil-palm plantation company, where the IPO price in 2012 of RM4.45 has now dropped to RM1.80, wiping off billions from the market and resulting in the Employees Provident Fund (EPF) losing millions of contributors' money in the process.
Our country's leaders have learned maybe by appointing a non-accountant to the post of auditor-general, it would be easier to bring the 1MDB financial scandal to a close.
Drngsc: Of course, you will ask a plumber to do a doctor's job if your intention is for the patient to die.

You will appoint an obedient Bachelor of Arts graduate to become chief accountant if you wish the accounts to be messed up and for a proper audit to fail.- Mkini

1 comment:

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