Ex-1MDB auditor obtains injunction against MIA

The auditor who signed off 1MDB's 2014 accounts has obtained an injunction to prevent the Malaysian Institute of Accounts (MIA) from publicly announcing the findings of its disciplinary proceedings against him.

Deloitte PLT partner Ng Yee Hong, 43, had sought the injunction pending the disposal of his suit against the MIA filed on Sept 4. The injunction was obtained on Sept 5.

Ng's suit aims to prevent the MIA from announcing the findings until he disposes of his appeal against the MIA disciplinary board's decision in the event it is unfavourable to him.

According to his originating summons, the disciplinary board had concluded investigations on July 17 and was supposed to announce the findings at 3.30pm on Sept 5.

"I have reason to fear that the defendant will announce an adverse decision. I would suffer irreparable harm if any possible adverse decision is publicly announced," Ng said.

He added that the public announcement of an unfavourable decision would "would effectively render my right to appeal, and any appeal I lodge, nugatory".

Ng said he would appeal any adverse decision against him by the MIA.

Deloitte was among several top accounting firms that were appointed by 1MDB at one point or another.

In 2017, Deloitte PLT had disavowed its 2013 and 2014 audits of 1MDB.

Earlier this year, Deloitte became the first accounting firm to be sanctioned. It was fined RM2.2 million by the Securities Commission for failing to report irregularities involving an RM2.4 billion bond issued by 1MDB.

The MIA is a statutory body that regulates the accounting industry under the Accountants Act 1967, among others. - Mkini