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

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, a...

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Main Authors:	Abu Bakar, Nur Barizah, Ismail, Suhaiza
Format:	Article
Language:	English
Published:	SAGE journals online 2011
Subjects:	HJ9701 Public accounting
Online Access:	http://irep.iium.edu.my/2229/ http://irep.iium.edu.my/2229/ http://irep.iium.edu.my/2229/1/FMAI.pdf

id	iium-2229
recordtype	eprints
spelling	iium-22292014-01-07T06:45:15Z http://irep.iium.edu.my/2229/ Financial Management Accountability Index (FMAI) in the Malaysian public sector: a way forward Abu Bakar, Nur Barizah Ismail, Suhaiza HJ9701 Public accounting 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. SAGE journals online 2011-03 Article PeerReviewed application/pdf en http://irep.iium.edu.my/2229/1/FMAI.pdf 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 http://ras.sagepub.com/
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HJ9701 Public accounting
spellingShingle	HJ9701 Public accounting Abu Bakar, Nur Barizah Ismail, Suhaiza Financial Management Accountability Index (FMAI) in the Malaysian public sector: a way forward
description	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.
format	Article
author	Abu Bakar, Nur Barizah Ismail, Suhaiza
author_facet	Abu Bakar, Nur Barizah Ismail, Suhaiza
author_sort	Abu Bakar, Nur Barizah
title	Financial Management Accountability Index (FMAI) in the Malaysian public sector: a way forward
title_short	Financial Management Accountability Index (FMAI) in the Malaysian public sector: a way forward
title_full	Financial Management Accountability Index (FMAI) in the Malaysian public sector: a way forward
title_fullStr	Financial Management Accountability Index (FMAI) in the Malaysian public sector: a way forward
title_full_unstemmed	Financial Management Accountability Index (FMAI) in the Malaysian public sector: a way forward
title_sort	financial management accountability index (fmai) in the malaysian public sector: a way forward
publisher	SAGE journals online
publishDate	2011
url	http://irep.iium.edu.my/2229/ http://irep.iium.edu.my/2229/ http://irep.iium.edu.my/2229/1/FMAI.pdf
first_indexed	2023-09-18T20:09:45Z
last_indexed	2023-09-18T20:09:45Z
_version_	1777407398113181696

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

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