It Should Be "Forensic Audit" Ok, Not Just Any Audit.

The PM cannot be that dumb when he said that the RM42 billion is in those TWO parcels of land (TRX and Sungei Besi). 

I think he was talking to his supporters - who by the way are quite the morons and will swallow everything he shoots off.

By the way that same Indian guy has told people that all that money that left the country (to PetroSaudi etc) is GONE. It is never coming back.  Dia sendiri cakap.

Back to the case, there seems to be some confusion over this 'audit' that everyone is looking forward to. Of course the crooks are also preparing the ground to confuse the public.

Everyone is talking about 'the audit', the 'Auditor General's Report' etc.

The PM has even tried to spin the 'audit' thingy by saying that 'two international auditors have already doe their audits'.

Implying what more can the Auditor General come up with? I think we have to watch the Auditor General very closely.

Please dont do just another 'audit' and then confirm to everyone what the two international audit firms have also 'confirmed'. That will not be fair. That will not be honest.

We need a forensic audit. By the way this is what Nazir Razak meant as well when he said get 'international audit firms' to audit the company's books. To be accurate, two international audit firms have indeed 'audited' their books. What we need is a forensic audit.

What is a forensic audit? Here is one definition :

"Forensic auditing is a specialization within the field of accounting, and forensic auditors often provide expert testimony during trial proceedings. Most large accounting firms have a forensic auditing department.  A forensic audit is an examination and evaluation of a firm's or individual's financial information for use as evidence in court. A forensic audit can be conducted in order to prosecute a party for fraud, embezzlement or other financial claims."

A forensic audit does not only count the assets and the liabilities,  the cashflows and the asset depreciations. It goes deeper and scrutinises  the legalities behind the assets, liabilities, any fraudulent transactions, embezzlement etc.

Here is a simple example. A real case.  Someone steals money from his company. He uses the money for a short while (maybe to invest in the stock market). Then he sells his shares and puts the money back in the company. No money was lost. When the auditors close the accounts, everything balances.

But the money was stolen, at a point in time. The theft did take place. A forensic audit may uncover the theft because at a point in time (pada suatu ketika) the money was taken out unlawfully.  

So Mr Auditor General, we want a Forensic Audit. Has the Auditor General performed forensic audits before? Most certainly. 

Please do not say you do not know how to perform a forensic audit.

So to all Bloggers, Media people, anyone who is interested - the key phrase is Forensic Audit.