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Question 2 a. Incidences of the lack of accountability can be improved by emphasizing transparency of information, communication and technology (ICT). Discuss the impact
Question 2 a. Incidences of the lack of accountability can be improved by emphasizing transparency of information, communication and technology (ICT). Discuss the impact of information technology (IT) to the level of accountability in relation to the example case of 1MDB). b. Explain two (2) procedures of accounting for receipt and two (2) procedures of accounting for payment in Malaysian government system. c. Government accounting is different from commercial accounting. Identify the differences between these two-accounting environment in terms of: i) Objectives. ii) Main accounting concepts or basis. iii) financial reporting. d. The Auditor General has identified several issues such as lack of supporting documents for several expenditures and no up-to-date annual accounts for local government authorities in the previous Audit Report. Discuss three (3) financial management problems faced by the local government authority and give three (3) suggestions to resolve these problems. e. Explain three (3) advantages of using accrual accounting in the public sector and challenges facing in implementing the accrual system.
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