PricewaterhouseCoopers appointed so that audit on YaPEIM is independent — Minister

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KUALA LUMPUR (May 15): The decision to appoint PricewaterhouseCoopers to audit the accounts of Yayasan Pembangunan Ekonomi Islam Malaysia (YaPEIM) was made to ensure the process is independent, said Minister in the Prime Minister’s Department Datuk Seri Dr Mujahid Yusof Rawa.

Mujahid, who is in charge of Islamic religious affairs, said the aim is to bring back the public’s trust in the foundation, whose image had become tarnished.

He said getting to the bottom of things at the foundation is one of the tasks of its new board of directors and that the revelations made by YaPEIM chairman Datuk Dr Mohd Daud Bakar “that all was not in order” was based on a comprehensive report.

Mujahid was speaking to reporters after attending a breaking of the fast function at Masjid Jamek here tonight.

It was reported that the foundation was plagued with problems like negligence and poor governance over the past few years.

Recently the media had reported that RM1 million belonging to the foundation meant for orphans was diverted to pay for legal fees of an aide to former Prime Minister Datuk Seri Najib Tun Razak and that the foundation suffered losses amounting to RM12  million in its Ar Rahnu Islamic pawning scheme.