Friday 29 Mar 2024
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PETALING JAYA (Aug 11): KPMG said it has not heard from Malaysia's Public Accounts Committee (PAC) on the audit firm's slated appearance before the Parliamentary body next month since investigation into 1Malaysia Development Bhd (1MDB) was temporarily suspended.

KPMG managing partner Datuk Johan Idris said the firm, a former auditor for state-owned 1MDB, had not received any notification from the PAC about when KPMG was expected to be summoned for questioning since investigations were temporarily suspended.

The suspension follows the recent appointment of four PAC members, including its chairman Datuk Nur Jazlan Mohamad into the Cabinet after a reshuffle.

"No, we have not received any letter or notification from the PAC. We also did not receive a letter from the PAC on the second summon (for questioning)," Johan told reporters on the sidelines of the 2015 Global Audit Committee Survey launch today.

The PAC had first questioned KPMG and current 1MDB auditor Deloitte in June this year.

Following this, it was reported that PAC had called upon KPMG, Deloitte and another former 1MDB auditor Ernst & Young for another round of questioning this September on alleged discrepancies raised by the Auditor-General in the interim report on 1MDB.

1MDB, since its inception in 2009, has changed its auditors three times. KPMG was appointed as 1MDB's auditor after Ernst & Young's services were terminated in 2010.

Deloitte is 1MDB's current auditor after taking over from KPMG.

On opposition lawmakers' criticism that KPMG had let down Malaysians following alleged discrepancies over its 1MDB auditing, Johan declined to elaborate, only saying KPMG's work was based on professional standards.

Petaling Jaya Utara MP Tony Pua had earlier lodged a report with the Malaysian Institute of Accountants against KPMG and Ernst & Young for alleged discrepancies in 1MDB's financials.

Today, KPMG's Johan said: "As a professional firm, our work is based on professional standards and we need to abide by professional rules."

"We abide by confidentiality in what we can say. That is all I can comment," he said.

 

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