The Malaysian Institute of Accountants says it will not be appropriate as the enforcement process is in progress.
1MDB used the services of KPMG for its accounts for for 2010, 2011 and 2012. (Reuters pic)
KUALA LUMPUR: The Malaysian Institute of Accountants (MIA) will not comment on KPMG Malaysia’s statement on 1MDB, said its chief executive officer Nurmazilah Mahzan.
“Currently, the enforcement process is in progress. Taking note of current developments, it will be inappropriate for MIA to make any comment,” she said in a statement today.
DAP lawmaker Tony Pua in 2015 lodged a complaint to the MIA against Deloitte and its audit partner, Ng Yee Hong, for failing to conduct a thorough audit on 1MDB for the period of March 2013 and 2014.
Deloitte was 1MDB’s third auditor, after Ernst & Young LLP and KPMG.
In 2016, Deloitte resigned as the financial scandal surrounding the debt-ridden state firm resonated across the global financial system.
KPMG was responsible for 1MDB’s accounts for 2010, 2011 and 2012, while Deloitte managed the 2013 and 2014 financial statements.
Yesterday, KPMG issued a statement saying the financial statements for the financial years ended March 2010, 2011 and 2012 did not provide a true and fair assessment of 1MDB.
The professional service company had also informed 1MDB to take all steps necessary to prevent any further reliance on the audit reports that it prepared for the company for the respective periods. -FMT
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