`


THERE IS NO GOD EXCEPT ALLAH
read:
MALAYSIA Tanah Tumpah Darahku

LOVE MALAYSIA!!!


 


Wednesday, June 3, 2015

MIA confirms move to investigate auditors of 1MDB

Its CEO says they are obligated to investigate their members if complaints have been lodged with the Institute.
mia3
PETALING JAYA: The Malaysian Institute of Accountants (MIA) will follow-up on two complaints it has received so far in connection with the auditors of 1Malaysia Development Berhad (1MDB).
Speaking to StarBiz, its chief executive officer Ho Foong Moi revealed that the Institute was obligated to act on these complaints and would thus commence an investigation into the auditors who were members of the Institute.
“We have a due process to investigate any complaints made against any of our members,” Ho told StarBiz in reference to the complaints lodged with them by DAP’s Tony Pua, the MP for Petaling Jaya Utara, in March and May of this year.
She did caution however that it was difficult to estimate when investigations could be wrapped up mainly because the 1MDB case was complex and would involve the procurement of relevant documents as well as prompt responses from the parties concerned.
Ho also said that the MIA Council was determined to keep investigations free of any conflict of interest thereby making it necessary that council members currently working for auditors Ernst & Young, KPMG and Deloitte (who have worked for 1MBD/Accountant General’s office) be excluded from participating in investigations.
The MIA is a regulatory body for accountants in Malaysia and has the jurisdiction to investigate and punish members who have flouted the rules. Its power however is limited to individuals and does not extend to firms.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.