Hornbill Unleashed

September 8, 2016

MIA probe into 1MDB auditors ‘ongoing’

Filed under: Politics — Hornbill Unleashed @ 9:01 PM

Dr-Nurmazilah-MahzanThe Malaysian Institute of Accountants (MIA) is still investigating complaints against the external auditors appointed by 1Malaysia Development Bhd (1MDB).

Newly-appointed Chief Executive Officer Dr Nurmazilah Mahzan confirmed this to The Edge Financial Daily today.

She declined to provide any timeline when the probe will be completed.

Opposition lawmaker Tony Pua had lodged complaints with the MIA against KPMG and Deloitte Malaysia in March and June last year, claiming the firms intentionally or negligently failed to conduct necessary due diligence in the audit of 1MDB.

He alleged this resulted in the filing of fraudulent 1MDB annual financial statements.

Following the civil suits filed by the US Department of Justice to recover properties worth USD1 billion allegedly misappropriated from 1MDB, Deloitte said its audit report in connection with 1MDB’s 2013 and 2014 financial statements should no longer be relied upon.

FMT Reporters Online


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