DAP MPs want action on Deloitte over 1MDB audit

Kepong MP Lim Lip Eng speaks to reporters at Parliament in Kuala Lumpur November 21,2018. ― Picture by Ahmad Zamzahuri
Kepong MP Lim Lip Eng speaks to reporters at Parliament in Kuala Lumpur November 21,2018. ― Picture by Ahmad Zamzahuri

KUALA LUMPUR, Nov 21 — Kepong MP Lim Lip Eng said action must be taken against Deloitte Malaysia for providing a falsified audit of 1Malaysia Development Berhad (1MDB) to the Public Accounts Committee (PAC).

Lim said Deloitte’s then-country managing partner Datuk Tan Theng Hooi must also be made to answer as he signed off the account on behalf of Deloitte Malaysia.

“He even came to Parliament to testify before the PAC in defence of the 1MDB account, which we now know to be untrue,” he said during a press conference at the Dewan Rakyat today.

Lim pressed the Malaysian Institute of Accountants (MIA) to finally take action against the firm over this.

The MIA previously it was investigating both Deloitte and KPMG, another former 1MDB auditor that disavowed its audit following later third-party disclosures.

“My colleague (Damansara MP) Tony Pua lodged an official complaint with the institute in 2015, but until now there has been no official reply.

“I want MIA to state clearly and immediately as to what their position is on the account audited by one of its members,” he said.

Kampar MP Thomas Su, who was also present, called Deloitte’s actions indefensible and said it was imperative that the MIA take action over the deception of Parliament and the PAC.

In 2016, Deloitte stated that its audit reports for 1MDB’s financial statement for 2013-2014 should no longer be relied upon due to new information revealed by the US Department of Justice when it filed complaints in seeking to recover over RM6.8 billion in 1MDB-linked assets.