Felda launches independent audit firm appointments for subsidiaries to boost governance

Felda disclosed that it is actively appointing independent audit firms to conduct reviews of several subsidiaries, a step taken in line with advice from the prime minister, the Suruhanjaya Pencegahan Rasuah Malaysia and the Felda 2030 steering committee. The appointments are intended to improve the overall governance of the Felda Group and ensure its long-term sustainability. Felda said it will keep evaluating the requirement for forensic audits across the entire organization.

The forensic audit effort was launched in 2019 when Ernst & Young was hired, and the audit report was later presented to Parliament via a Felda white paper in 2020. The latest audit rollout reflects the group's ongoing commitment to higher standards of governance, accountability, transparency and regulatory compliance. Felda reaffirmed its resolve to protect the interests of the organization and the welfare of its settlers.