The 1MDB auditor Deloitte resigned because it was unable to complete the audit of the state investment fund’s 2015 accounts, 1MDB president Arul Kanda Kandasamy said.

Arul Kanda told students at a town hall session at Universiti Malaya in Kuala Lumpur last night that this was because the required documents had been confiscated by the police during a raid in July last year.

“We could not audit the accounts after the company’s records had been taken by the police during a raid in July 2015. All the company’s records had been taken for further investigation.

“So, although all the accounts had been prepared, the auditor needed the company’s documents to conduct the audit. With those documents absent, the audit could not be conducted,” Arul Kanda said at the closed-door event on 1MDB for the students.