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Pua absolutely wrong about Deloitte, says Arul
Published:  Jun 11, 2015 4:24 AM
Updated: 5:11 AM

1MDB president Arul Kanda has dismissed DAP lawmaker Tony Pua's claim that the Finance Ministry and company directors were "refusing to allow Deloitte” to begin auditing the firm.

He said the Public Accounts Committee (PAC) member's remarks were "absolutely incorrect and untrue".

 

"The board and management of 1MDB met Deloitte as early as February 2015 to discuss commencement of an audit after the financial year end of March 31, 2015.

"In fact, the audit of a major 1MDB subsidiary, Edra Global Energy Berhad, has already commenced and is well under way," he added in a media statement today.

Arul noted that 1MDB is currently undergoing a thorough review and investigation of its accounts by the National Audit Department.

"Management time is fully focused on this, given the significant public interest to complete the review as soon as possible.

"The board of 1MDB has maintained a regular dialogue with Deloitte on the audit process and a further update will be issued when appropriate," he said.

Yesterday, the PAC was told that the Finance Ministry has yet to reappoint Deloitte to audit 1MDB's latest accounts.

 

While not ruling out the ministry may have appointed another auditor, PAC chairperson Nur Jazlan ( photo, right ) said a government-linked company like 1MDB should have adopted good management practices by having its accounts audited promptly.

Nur Jazlan had chaired a hearing where the PAC questioned Deloitte representatives over its audit of 1MDB's accounts for the financial year ending March 31, 2014, in which it had given 1MDB a clean bill of health.

Previously, Pua, who is one of 1MDB's staunchest critics, had lodged a complaint against Deloitte with the Malaysia Institute of Accountants.

"Among the reasons I decided to proceed with an official complaint against Deloitte is because both the prime minister and board of directors of 1MDB have been using Deloitte as a shield to defend and justify the state of 1MDB today," he had said then.

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