15 Mar 2007

Australian accounting firm to probe Fiji National Provident Fund

10:27 am on 15 March 2007

A top Australian accounting firm is to investigate Fiji's biggest financial institution, the National Provident Fund with assets of more than 2-billion US dollars.

The investigation comes after discrepancies were found in the internal affairs of the FNPF during the term of the previous administration.

The FNPF board chairman and interim head of the finance ministry, Aisake Taito, says the inquiry by Ernst and Young will take six to eight weeks.

Mr Taito says Ernst and Young were selected because of the importance of the Fund to Fiji's economy and the need to have forensic experts and those with no previous connection with the Fund.