MOF can't say when 1MDB's financial statements will be completed
The Finance Ministry cannot tell how soon 1MDB's financial statement for the year 2015 and 2016 can be completed, despite the state-owned firm appointing a new auditor in January.
This is because the audit firm still requires documents confiscated by the police for its investigation into 1MDB over two years ago, the ministry said in a parliamentary reply dated Nov 16.
"On July 8, 2015, the police confiscated various original documents from 1MDB's office. 1MDB management had contacted the police about the return of these company documents.
"Up until today, these original documents have yet to be returned to the company,” the ministry said.
"This has made it difficult for the audit process because the audit firm needs to refer to the original documents to verify the financial report.
"However, 1MDB's audit firm has initiated the audit process on the financial statement for the year 2015 and 2016 based on existing information," the ministry said.
The Finance Ministry cannot tell how soon 1MDB's financial statement for the year 2015 and 2016 can be completed, despite the state-owned firm appointing a new auditor in January.
This is because the auditor still requires documents confiscated by the police for their investigation into 1MDB over two years ago, the ministry said in a parliamentary reply dated Nov 16.
"On July 8, 2015, the police confiscated various original documents from 1MDB's office. 1MDB management had contacted the police about the return of these company documents.

"Up until today, these original documents have yet to be returned to the company,” the ministry said.
"This has made it difficult for the audit process, because the audit firm needs to refer to the original documents to verify the financial report.
"However, 1MDB's audit firm has initiated the audit process on the financial statement for the year 2015 and 2016 based on existing information.
"The date of completion for the audit process cannot be determined as the police investigation is still going on,” the Finance Ministry said in response to a query from Muhyiddin Yassin (Bersatu-Pagoh).
Muhyiddin (photo) had asked about the reasons for the delay in 1MDB's financial report being tabled in Parliament.

However, the ministry insisted that it has never been necessary for it to do so.
"It has never been necessary for the 1MDB financial statement to be tabled in the Dewan Rakyat.
"The legitimate 1MDB financial statements are audited documents filed with the Companies Commission of Malaysia (SSM).
"The 1MDB financial statement for the year 2009 to 2014s can be downloaded from SSM's website," it said.
Previously, the ministry had stated that SSM extended the deadline for 1MDB to hold its annual general meeting and approve the financial statements for 2015 and 2016 to March 31 this year.
The predecessor of 1MDB, Terengganu Investment Authority, first roped in Ernst & Young as its auditor in March 2009, but the latter's service was terminated in September 2010, before 1MDB submitted its first financial statement for March 31, 2010.
1MDB later appointed audit firm KPMG, which signed off on 1MDB's accounts in 2010, 2011 and 2012.
Deloitte Malaysia then took over from KPMG after the state-owned firm sacked KPMG in December 2013, before the appointment of Parker Randall in January this year.



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