PAC: Review universities’ financial regulations, procedures

Hasan-AriffinKUALA LUMPUR: The Public Accounts Committee (PAC) has urged the Higher Education Ministry to streamline the financial affairs of all universities in the country by reviewing their financial regulations and procedures.

Its chairman Hasan Ariffin said the role of internal audit in every university should also be strengthened to ensure the proper management of university procurements.

These measures were part of the recommendations made by the PAC in its investigations into the management of procurement in Universiti Malaysia Kelantan (UMK), following the National Audit Department in the Auditor-General’s Report 2014 Series 2 tabled in Parliament on June 15, 2015.

The PAC report on the issue was tabled in Parliament today.

“The PAC has recommended that UMK apply existing financial procedures in line with the Treasury circular,” he said in a statement today.

He added that a meeting was held between the PAC, the ministry and the university’s senior officials on March 22.