Two funds under the control and supervision of the Malaysian Communications and Multimedia Commission (MCMC) will be audited, said Communications and Multimedia minister Gobind Singh Deo.
He said the independent audit comes following concerns raised by certain parties on the handling of the two funds, namely the MCMC Fund and the Universal Service Provision (USP) Fund.
Gobind said he will announce the auditor and the time frame for the audit to be completed by next week.
“The purpose of this audit is to verify the said accounts and to enhance transparency over the use of the said funds in the past,” he told media during a press conference in Putrajaya today.
Gobind said, according to financial statements from the MCMC, the MCMC fund stood at about RM800 million as at Dec 31, 2016, while the USP fund stood at RM8.5 billion as of Dec 31, 2016.
The MCMC fund, set up under the Malaysian Communications and Multimedia Commission Act 1998, is used for the financial requirements of the MCMC while the USP fund is used to provide communications and Internet access to rural areas via infrastructure projects.
Gobind said telcos contribute a percentage of their net revenue towards these funds which are managed by the MCMC.
“The audit should highlight any shortcomings in the use of the said funds if any, and any problems in the process of awarding and implementation of awards and projects under these funds.”
Gobind said he hoped the MCMC will render the auditor their full assistance and cooperation so as to complete the audit as soon as possible. – Malaysiakini