Parliament to probe PSM’s MVR 100m corruption case

The Parliament’s Committee for State-Owned Enterprises made the decision to investigate Public Service Media’s (PSM) dissolution of its Internal Audit Department, as well as the MVR 100 million corruption case against them.

In the 13th committee meeting held on Monday, June 6, MP for Feydhoo Constituency Mohamed Nihad put forth a submission, asking to investigate the audit department dissolution and corruption case at the earliest.

MP Nihad’s submission was backed by MP for Central Fuvahmulah Hussain Mohamed Didi.

Earlier this month, PSM announced the dissolution of its audit department and had also removed its Internal Auditor after insuring three months' salary.

Subsequently, PSM announced their decision to outsource its internal auditing works.

In a statement released regarding the dissolution of PSM’s Internal Audit Department, the media said that Internal Audit Department had failed to meet its objectives during the past 14 months.

The statement further detailed that the Company’s board’s Audit Committee had reviewed the work of its Internal Audit Department following which they had debated whether it would be the most beneficial for the company to outsource its auditing works or have it done internally, as at present.