Not another Forensic!

It would seem that everytime a new chairman or new management is put into a company the first thing that is done is, lets undertake a forensic audit. In the recent past can anyone please count the number of times that forensic audits have been carried out at FELDA/FGV. 

Now before the new Chairman goes off saying, "these bloggers don't know what they are saying etc etc", lets remind ourselves that when entities, especially large ones, operate there are the quarterly reporting, the risk management frameworks, there are both internal and external audits, than there are (most critically) the responsibility on the part of the Board to keep proper books of accounts and to ensure the truth and fairness of these accounts. So when the new broom comes in and immediately says lets have a(nother)forensic audit is he saying the following,

1. That the previous board and management had such flawed policies, procedures and frameworks in place that resulted in quarterly reports that could not be relied upon, a sham. If so than the Board and Management fell foul of the CA 2016 and should be charged for such, why are the regulators keeping quiet?

2. The Internal Auditors would/should have reported to the AC on shortcomings, did the AC not pay attention and not bother about what the Internal Auditors were saying, or was the Internal Audit function so useless, if its the later than its most worrying as I understand that the Head of IA is at another GLC Plantation Group, wonder what internal auditing goes on there.

3.   With regards to the external audits, who are FELDA's external auditors and how long have they been the auditors. Over the last few years the external auditors have introduced in their audit reports key audit matters (KAMs), supposedly matters that keep the auditor awake at night with regards the audit. Have concerns not been raised and highlighted, if they did what action if any was taken, if not what is the Board going to do with regards to  the value that the external auditors provide.

With this wealth of information, including a previous forensic, can someone please explain why the need to flog the dead horse over and over. I am sure the Police and MACC also have their own investigation papers. 

While it may seem the right thing to do, at the end what value do these countless forensic provide, the prize mare has already been abused and the culprit bolted from the barn,  what good is shutting the barn door now! 

Enough of the investigations etc, just get on with it and put things right. The culprits should be reported to the police and hopefully are guest of His Majesty.

STOP THE SANDIWARA, LETs MOVE FORWARD!