FGV Appoints Independent Auditor to Investigate Felda-Linked Corporate Entity

FGV Holdings Bhd has appointed an independent audit firm to conduct a forensic audit into specific matters involving a corporate entity linked to the Felda Group.

Felda said the appointment is part of wider efforts to strengthen governance and accountability across its organisation, while the process of appointing independent audit firms for several other subsidiaries is also underway. 

Felda Steps Up Governance Checks Through Forensic Audits

The latest move follows recommendations from Prime Minister Datuk Seri Anwar Ibrahim, the Malaysian Anti-Corruption Commission and the Special Committee on Felda 2030 Direction.

Felda said independent forensic audits would provide a more professional and comprehensive review of issues involving governance, compliance and possible misconduct. 

Forensic auditing at Felda has been carried out previously, beginning in 2019. Ernst & Young was previously appointed for an audit, with its findings later presented to Parliament through the Felda White Paper in 2020.

Felda said the latest audit reflects its continued commitment to improving transparency and protecting the interests and welfare of settlers. The organisation also said it would assess whether further independent audits are necessary across the wider group.