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Financial Management Accountability Index (FMAI) in the Malaysian public sector: a way forward

Abu Bakar, Nur Barizah and Ismail, Suhaiza (2011) Financial Management Accountability Index (FMAI) in the Malaysian public sector: a way forward. International Review of Administrative Sciences, 77 (1). pp. 159-190. ISSN 0020-8523

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Abstract

The National Audit Department (NAD) of Malaysia has introduced the Financial Management Accountability Index (FMAI) within the framework of the audit rating system. This study shares the Malaysian experience in using FMAI as an accountability medium, evaluates the FMAI scores obtained by agencies, and proposes measures to enhance the usefulness of FMAI. The study uses secondary data as provided on the NAD website. Descriptive analyses were conducted in evaluating the rating scores across agencies. It was found that majority of the agencies have a ‘good’ financial management system, with Federal agencies performing better than their counterparts at the State level. It was also found that the overall rating system and FMAI suffer from lack of proper disclosure, consequently reducing their worthiness. There are still areas of improvement that need to be addressed by the NAD to enhance the value of the overall audit rating system.

Item Type: Article (Journal)
Additional Information: 5096/2229
Uncontrolled Keywords: accountability index, benchmarking, developing countries, financial management, performance disclosure, public sector reform, rating, transparency
Subjects: H Social Sciences > HJ Public Finance > HJ9701 Public accounting
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences > Department of Accounting
Depositing User: Assoc Prof. Dr. Suhaiza Ismail
Date Deposited: 16 Sep 2011 11:18
Last Modified: 07 Jan 2014 14:45
URI: http://irep.iium.edu.my/id/eprint/2229

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