Action will be taken against NAJIB'S SON if found guilty- regulator on Deloitte-1MDB case

The Malaysian Institute of Accountants (MIA) has denied a Sin Chew Daily report that it is zooming in on prime minister's son Mohd Nizar Najib who is a partner at international accounting firm Deloitte which is auditing 1MDB.

Based on an email it received from MIA, Sin Chew on Wednesday reported that MIA will take action against Nizar (photo) if he was found to have breached the law.

This is after PKR vice-president Rafizi Ramli raised the issue of a conflict of interest as Deloitte is auditing 1MDB which comes under the finance ministry led by Nizar's father, Najib Abdul Razak.

However, Sin Chew today reported MIA chief executive officer Ho Foong Moi as saying the e-mail statement had not referred to any one individual in particular.

Instead, Ho said the investigation was against the firms Deloitte and KPMG which Petaling Jaya Utara MP Tony Pua had lodged a complaint against over their handling of 1MDB's accounts.

KPMG served as 1MDB's auditor for the financial year 2010 to 2012 while Deloitte audited the company's accounts for 2013 and 2014.

"If any member of MIA (referring to KPMG or Deloitte) has violated any rules we will take action without hesitation," said Ho. - M'kini