KUALA LUMPUR, Jan 28 — The Securities Commission (SC) has confirmed that investigations are proceeding against Deloitte and KPMG over their roles as auditors of 1Malaysia Development Bhd (1MDB).
The New Straits Times quoted a commission spokesman as saying that the review of the conduct of both auditors in relation to 1MDB is still active.
“Once the review is completed, the SC and the Audit Oversight Board will assess the findings and consider the appropriate next course of action,” the spokesman reportedly said.
It was previously reported that the SC was looking into Deloitte and KPMG’s roles in the 1MDB scandal.
Last year, the Malaysian Institute of Accountants (MIA) investigated both Deloitte and KPMG on whether they had breached the Accountants Act when signing off 1MDB’s accounts between 2009 and 2014.
The MIA has since 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.
