Wednesday, November 30, 2011

Accountability Against Financial Fraud

"Pay Up or be Axed"....That's the headline that appeared on the main page of The Star newspaper dated 26th November 2011. Basically, the headline was refering to the Malaysian government recent proposal in mitigating the issue of occupational or management fraud within the public sector. It was further stated that "Officers who cause the government to lose money due to their negligence will be made to repay a portion of the lost revenue and they may even be sacked. If there are cases of embezzlement, ministry and department heads have to take the responsibility to report the matter to the police so that an investigation can be carried out". The Public Service Department (PSD)introduced these measures to ensure that civil servants are held accountable for the losses highlighted by the Auditor General in the 2010 Report. PSD recently issued a set of comprehensive guidelines to all ministries and state authorities on procedures in managing financial fraud at workplaces...

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