Federal Land Development Authority (FELDA) subsidiary FGV Holdings Bhd has appointed an independent audit firm to conduct a forensic audit into specific matters involving an entity with corporate ties to the group.
FELDA said the appointment is part of efforts to strengthen governance within the FELDA Group, with independent audit firms also being appointed for several other subsidiaries.
The move follows recommendations by the Prime Minister, the Malaysian Anti-Corruption Commission (MACC) and the Special Committee on the Direction of FELDA 2030.
FELDA said it would continue to assess the need for independent audit firms to conduct professional and comprehensive forensic audits of FELDA and organisations under the FELDA Group.
The authority noted that its forensic audit initiative has been ongoing since 2019, when it appointed Ernst & Young (EY) to conduct an audit, with its findings subsequently presented in Parliament through the FELDA White Paper in 2020.
It said the latest audit is intended to strengthen governance, accountability, transparency and compliance across the group.
FELDA added that it remains focused on protecting the organisation’s interests and the well-being of its settlers.
