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Friday, July 29, 2016

Chartered accountant Rafizi offers free service to audit 1MDB


PKR vice-president Rafizi Ramli has volunteered to join the new audit team to be appointed to number crunch the allegation-riddled 1MDB.
The Pandan lawmaker said he is a chartered accountant registered with the Institute of Chartered Accounts England and Wales (ICAEW) and the Malaysian Institute of Accountants (MIA).
"I am also prepared to volunteer my service for free," he added in a media statement.
If 1MDB's board of directors is convinced there were no wrongdoings, Rafizi said, the easiest and most cost-effective way to convince the people is to appoint him to the new audit team.
"I will officially write to 1MDB board of directors chairperson Irwan Siregar regarding this," he added.
Earlier today, Irwan, who is also Finance Ministry's Treasury secretary-general, said that an announcement would be made soon regarding 1MDB’s new auditor.
1MDB had recently revealed that its current auditor Deloitte Malaysia would be quitting soon.
The firm also said that its 2013 and 2014 audited financial statements should no longer be relied on until allegations made by the US Department of Justice (DOJ) are determined in court.

This was then repeated by Deloitte, which said its audit of 1MDB in 2013 and 2014 would have been impacted if it had known at that time the information contained within the DOJ lawsuits.
The DOJ last Wednesday filed two lawsuits to seize more than US$1 billion of assets which it alleged were purchased using funds siphoned from 1MDB.
Deloitte is the third audit firm to part ways with 1MDB since its inception in 2009. -Mkini

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