FGV Appoints Independent Audit Firm To Strengthen Group Governance

KUALA LUMPUR, Sept 14 (Bernama) -- Federal Land Development Authority’s (FELDA) subsidiary, FGV Holdings Bhd, has appointed an independent audit firm to conduct a forensic audit regarding specific matters involving an entity with corporate ties to the group.

In a press statement, FELDA noted that the process of appointing independent audit firms is actively being carried out for several other subsidiaries.

"This appointment is carried out in line with the recommendations of the Prime Minister, the Malaysian Anti-Corruption Commission (MACC), and the Special Committee on the Direction of FELDA 2030.

"This step is specifically designed to improve the governance of the FELDA Group for the sustainability of the agency," it said.

It stressed that FELDA will continue to review the need to appoint an independent audit firm to conduct a professional and comprehensive forensic audit on FELDA and all organisations under the FELDA Group.

For the record, the forensic audit initiative against FELDA has been implemented since 2019.

FELDA had previously appointed Ernst & Young (EY), and the findings of the audit report were presented in Parliament through the FELDA White Paper in 2020.

"The implementation of this latest audit reflects the ongoing commitment of FELDA Group management to strengthen governance, accountability, transparency and compliance at all levels of operation.

"FELDA remains steadfast in its stance to ensure the interests of the organisation and the well-being of the settlers are always protected and preserved," it added.

-- BERNAMA