The Role of Auditor General in Malaysia

To evaluate the Performance in any organization would simply mean to understand the goals and objectives of the company and how the goals/ objectives are achieved are the means of measurement. Different organization will have different objectives. For some it would mean high revenue, managing resources, customer satisfaction, and strong governance, building

Compliance auditing is used to evaluate compliance with binding standards (non-existent or ambiguous) and the level of compliance with other industry standards, and Forensic auditing which is performed to determine errors with established written standards imposed by the payer as either a condition of participation or payment. In my current role, I have led several compliance based audits proactively and in response to state inquiries and led a team of auditors who performed forensic based audits on 48,000+ medical bills annually totaling $1billion in annual billed charges.

The profession of accounting is a one that is highly regulated, due to the knowledge and power each accountant possesses. Although an accountants duties differ from one position to the next, the main sectors that accountants pursue are auditing or taxation. Auditing is ensuring the public that the information listed on the financial statements of public companies is free of material misstatements. While taxation is helping people or companies file their tax returns to the federal government or offering tax advice. In the world of auditing, you either follow the Public Company Accounting Oversight Board (PCAOB), for public company audits, or the American Institute of Certified Public Accountants (AICPA), for other entities

Management accounting is for commercial finance, analyzing past performance and projecting future results aiding in the commercial decision-making. This department defines and measures key targets needed to achieve for McDonald’s business strategy to be successful (McDonald’s Corporation, 2008).

Two types of audits are conducted: internal control and performance audits. The internal audit is done to ensure that an agency is keeping proper records, adhering to policies and procedures. It evaluates and tests rules and regulations to ensure officials use public resources with integrity. On the other hand, Performance Audits assess how efficiently and effectively a local government runs aspects of its

Compliance and audit are centered on helping the organization accomplish responsible and effective ethics and corporate governance, and ethics, best practice corporate compliance and internal audit functions

The purpose of an audit is to enhance of confidence in the financial statements. An auditors opinion validates this purpose.

The auditor’s responsibilities are to audit annual financial statements and internal controls over financial reporting, and reports from the 10-Q quarterly reports. The auditor must also advice on new accounting pronouncements, and consolidating financial statements. (Intel Proxy Statement 2011, 48)

The National Audit Office (NAO) is responsible for the financial and “value for money” audits of central government expenditure, as well as other publicly related bodies. Although there is no single definition for what a value for money audit is, the most widely accepted definitions connect value for money audits with the review of the three E’s (Lecture 2, AC340 Lent Term, Liisa Kurunmakii):

Throughout history, PMS clearly have a considerable contribution to evaluate the success of organisations. According to Neely et al. (2002), performance measurement is "the process of quantifying the efficiency and effectiveness of past actions". Moullin (2003) indicates that "PM is evaluating how well organisations are managed and the value they deliver for customers and other stakeholders". The modern accounting framework can be traced back to the Middle Ages and since that time appraisal of performance has primarily been ground on financial criteria (Bruns, 1998).

Risk, compliance and governance activities are by nature interconnected and rely on common sets of information, processes, technology and methodology. The traditional approach to governance, risk and compliance relies on working in silos and using separate point solutions to address each assurance group’s requirements. This creates a fragmented approach

Strategic objectives- pertain to value creation management makes on behalf of shareholders. Longterm strategies look

I have experience in performance management and understand the performance appraisal or a disciplinary process. It aims to improve organisational, functional, team and individual performances. Effective performance management measures the progress being made towards the achievement of the organisation's business objectives. It does so by planning, establishing, monitoring, reviewing and evaluating organisational, functional, team and individual performance.

According to Will S, Ray H, & Eric E.N. (2009), management accounting is a branch of accounting that is concerned with providing information to managers who direct and control the firm’s operations. Management directing function seeks to effectively use both the human and raw material wealth of a firm to achieve organizational set objectives on routine basis. Controlling function is the art of tele-guarding the activities of the organization to consistently fall in line with set objectives. Management accounting achieves this function through effective budgeting.

o Performance evaluations are formal review processes designed to encourage the informal day-to-day practice of performance management, while providing a framework in support of merit pay adjustments, promotion and employment decisions. Evaluating staff performance and helping employees develop their skills are important duties associated with performance management. Performance management begins with supervisors and employees collaboratively setting goals and standards, clearly communicating performance expectations and evaluating the results during the performance evaluation process.