Financial management accountability index (FMAI) in the Malaysian public sector : a way forward
- Sage, mar. 2011
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. Points for practitioners The FMAI, which has been developed and used in Malaysia, is an important initiative that can be emulated by public managers in other governments, either in its current form or with modifications. It is particularly useful for benchmarking purposes. In the context of Malaysia, this research provides important insights for public policy-makers on how the usefulness of the audit rating system can be further increased.
Setor Público Contabilidade Prestação de Contas Avaliação de Desempenho Reforma Administrativa País em Desenvolvimento