Category FAQs Search : Treasury Internal Audit Unit (ADP)
Question: What is the role of IA in the implementation of Accrual Accounting of The Federal Government?
Answer: The key role of IA as a second line defender in the implementation of accrual accounting is to assist MoF to verify the accuracy and completeness of the financial data on Immovable Assets (ATA), Moveable assets (AA), Accounts Receivable (ABT), Accounts Payable (AKB) and Assets Under Construction (AUC) for the purposes of preparing the financial statements of the Federal Government. In addition, IA also attends the Accrual Accounting Implementation Committee Meeting at MoF to discuss issues and challenges in the course of accrual accounting implementation.
(Source: Official Portal of Ministry of Finance, 21 Feb 2025)
Source Link: https://www.mof.gov.my/portal/pdf/bahagian/adp/faq-en.pdf