The National Audit Department will not be investigating allegations that 1MDB funds had been channeled into Prime Minister Najib Abdul Razak, said auditor-general Ambrin Buang.

He said this is because the special task force that is conducting the investigation is better equipped for the task.

“There is already an investigation by the taskforce. They are better equipped to do that.

“They have the power to look into people’s (bank) accounts and all that. I don’t have the power to look into people’s accounts,” he told reporters today after a briefing sessions with members of the Public Accounts Committee (PAC) about 1MDB.

He explained that if the National Audit Department were to require banking information, it would have to obtain it through other agencies such as Bank Negara.

Since Bank Negara is already a part of the task force, it is best to leave it to its investigations, he said.

The task force comprises Bank Negara governor Zeti Akhtar Aziz ( photo ), Attorney-General Abdul Gani Patail, Inspector-General of Police Khalid Abu Bakar, and Malaysian Anti-Corruption Commission (MACC) chief Abu Kassim Mohamed.

It is investigating allegations by The Wall Street Journal ( WSJ ) that US$700 million (RM2.6 billion) in 1MDB funds had been traced to Najib’s personal bank account, citing investigation documents from unnamed Malaysian authorities.

Najib has slammed the allegations are ‘political sabotage’ and threatened to sue the WSJ .

His lawyer has written to the prominent financial news daily’s owner Dow Jones to confirm the financial daily's article meant to say that Najib had misappropriated state funds.