Category FAQs Search : Treasury Internal Audit Unit (ADP)
Question: What are the types of audit conducted by the IA of MoF?
Answer: Presently, the IA of MoF conducts 2 types of audits, namely compliance audit and performance audit. Compliance audit includes financial audit and financial management audit. Financial audit evaluates whether financial systems, internal control of financial transactions and financial records are properly managed to ensure fair and true financial positions of MoF. Financial management audit evaluates whether the financial management of MoF is in accordance with the relevant financial rules and regulations. This evaluation covers the elements on the organizational management, budget, receipts, expenditure, procurement, Trust Fund/Trust Accounts and deposits, assets and stores as well as vehicle management.
Performance audits are conducted to evaluate whether the programme/activities/projects of MoF have been carried out economically, efficiently and effectively to achieve its desired objectives/goals as well as outcome and its impacts on targeted groups. This audit also includes ICT audit and procurement audit.
(Source: Official Portal of Ministry of Finance, 21 Feb 2025)
Source Link: https://www.mof.gov.my/portal/pdf/bahagian/adp/faq-en.pdf