KUALA LUMPUR, Nov 25 — The Malaysian Institute of Accountants (MIA) said its investigation on Deloitte over the latter’s audit of 1MDB has been referred to its disciplinary committee for further action.
MIA has been under pressure from federal lawmakers to reveal the outcome of its probes into Deloitte and KPMG after both firms sought to disavow their previous audits into the troubled state investment firm following new disclosures.
“With regard to the recent news in the media relating to 1MDB Auditor, Messrs Deloitte, MIA wishes to confirm that MIA has done the investigation on Deloitte where the case has now been escalated for hearing at the Disciplinary Committee,” the regulator said in a statement today.
On Nov 21, Kepong MP Lim Lip Eng demanded action against Deloitte and its former country managing partner, Datuk Tan Theng Hooi, for allegedly misleading Parliament’s Public Accounts Committee over its audit of 1MDB.
Lim emphasised that his colleague, Damansara MP Tony Pua, had lodged a report with MIA over the matter in 2015, but has yet to hear of the investigation’s outcome.
Kampar MP Thomas Su denounced Deloitte’s actions as indefensible and said it was imperative that MIA take action against Deloitte over its 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.
