00:01Former Auditor General Madinah Mohamad defends the Tabung Haji audit report,
00:05saying the RM4.8 billion difference from a PricewaterhouseCoopers review
00:10does not prove an audit failure.
00:12At the National Musyawarah Forum on Tabung Haji,
00:16she said differing purposes and methods made any direct comparison
00:20akin to comparing apples and oranges.
00:23She explained the discrepancy mainly reflected how asset impairments
00:27and investments involving TH subsidiaries and associate companies
00:31were recognised and valued.
00:34Madinah said her team found no evidence of theft or misappropriation
00:38and would have referred any such findings to the authorities under her clear mandate.
00:43She maintained the audit followed standards and evidence under the Audit Act 1957
00:47and Tabung Haji Act to assess whether accounts gave a true and fair view.
00:52PWC had meanwhile conducted a broader review of TH's financial position
00:57under different terms of reference,
00:59making its assessment different from the statutory audit.
01:03Madinah, who served from 2017 to 2019,
01:06suggested the Royal Commission of Inquiry findings might have deferred
01:10had she been called to testify.
01:12MUA MP, Syed Sadiq Syed Abdul Rahman,
01:15had questioned her absence during the August 11th Special Day 1 Rakyat debate
01:19because she was Auditor General at the time.
01:22The RCI found TH concealed its finances by reporting a RM3.4 billion profit
01:27instead of a RM1.4 billion loss under the appropriate accounting standards,
01:32a difference of nearly RM4.8 billion.
01:35The Commission also criticised the National Audit Department
01:38for not conducting stricker audits of TH's financial statements from 2014 to 2017.
01:45I'm Radeep Gil, FMT.
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