The former president and assistant treasurer of the nation's peak Muslim body have been stood down by their board amid an audit into alleged financial irregularities at the Australian Federation of Islamic Councils.

Ikebal Patel, the former president and current vice-president of AFIC and the assistant treasurer Ashraf Ali were suspended after an executive committee meeting on December 9, and an external auditor brought in to examine the use of hundreds of thousands of dollars of the organisation's funds.

Mr Patel was also suspended from the boards of all AFIC schools pending an investigation into millions of dollars in funds being charged by AFIC to Muslim schools of which he was also a board member.

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