KUALA LUMPUR (Feb 23): Malaysia’s auditor general raised concerns over the 2024 financial statements of 15 federal government agencies in the latest report released on Monday.

Among the key findings, Universiti Kebangsaan Malaysia (UKM), under the Ministry of Higher Education, received a modified opinion after serious irregularities were found in its fee collection and expenditure. The auditor also noted that a cooperation agreement signed by the university lacked approval from the finance minister and had no proper legal authority for fee collection.

A modified opinion is issued when the auditor cannot fully vouch for a financial statement because parts of it do not comply with accounting standards.

Other federal agencies flagged for concerns include: Human Rights Commission of Malaysia (Suhakam), Intellectual Property Corporation of Malaysia (MyIPO), Labuan Corporation, Skills Development Fund Corporation (PTPK), Malaysian National News Agency (Bernama), Co-operative Institute of Malaysia (CIM), Forest Research Institute Malaysia (FRIM), Armed Forces Veterans Affairs Corporation (Perhebat), Railway Assets Corporation (RAC), Universiti Sains Islam Malaysia (USIM), Board of Geologists Malaysia (BoG), Malaysian Rubber Board, National Kenaf and Tobacco Board (NKTB), and Kemubu Agricultural Development Authority.

Meanwhile, Perbadanan Perwira Harta Malaysia (PPHM) — a wholly owned unit of the Armed Forces Fund Board (LTAT) that manages and develops property projects for armed forces personnel — was found to have insufficient assets to meet financial obligations, bringing up going-concern issues.

The auditor general certified 143 out of 145 financial statements. The Malaysian Palm Oil Board (MPOB) is still undergoing an audit, while the Development Authority of Kelantan Selatan (Kesedar) has yet to submit its statements. Of those certified, 128 agencies received an unqualified opinion, meaning a clean audit confirming the accounts are reliable.

In a statement on Monday, Auditor General Datuk Seri Wan Suraya Wan Mohd Radzi said the department had identified 273 new issues related to financial management and governance across federal and state agencies.

The report is publicly accessible via the Auditor General’s Online Dashboard (AGD), which enables continuous monitoring of corrective actions taken by the agencies. Wan Suraya highlighted that between 2024 and December 2025, the AGD system helped recover RM316.68 million in government revenue and repayments, including RM221.52 million from federal agencies through penalties, rental arrears, land lease payments, and taxes.

She also noted that following amendments to the Audit Act, 1,856 entities, including companies, were gazetted for audit under the Follow The Public Money framework.

Of 852 federal-level entities analysed, four companies operated outside their objectives, 13 Minister of Finance Incorporated companies failed to pay dividends despite profits, nine faced ongoing concern issues, and 208 are being dissolved or are no longer linked to the government.

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