Lack of concern about 1MDB's unaudited accounts shows cover-up, says MP

Tony Pua questions why Prime Minister Najib Razak, who is also finance minister, did not seek an arrangement with police for audits to be carried out at 1MDB. – The Malaysian Insight file pic, November 21, 2017.

DAP lawmaker Tony Pua took the Finance Ministry to task today over its lack of concern that its wholly owned firm 1Malaysia Development Bhd’s accounts have not been examined by an external auditor over the last five years.

The Petaling Jaya MP said the ministry’s “lackadaisical attitude” was further proof that allegations of corruption involving the state investor were being covered up.

He was responding to the finance minister’s written parliamentary reply that police’s investigation into 1MDB was hampering the auditing of its financial statements for 2015 and last year.

Pua said Deloitte Malaysia had withdrawn its endorsement of 1MDB’s March 2013 and March 2014 financial statements.

The last financial statement prepared by Deloitte was for the period ending March 2014, and there has been no official audit for 1MDB since.

This means that since March 2012, or more than five years ago, 1MDB has not filed any financial statements that have been endorsed by an external auditor,” said Pua in a statement.

“This unprecedented delay was despite repeated deadline extensions granted to 1MDB by the Companies Commission of Malaysia to file its annual reports.

“And now, the finance minister tells us that it has completely given up and that it cannot even provide a deadline.”

He questioned why Prime Minister Najib Razak, who is also finance minister, did not seek an arrangement with police for audits to be carried out.

“Surely it is not too hard for investigators to allow the auditors to, at the very least, sight the documents needed?

“We are not asking for police to return, relinquish or destroy possible evidence in their hands. We are merely asking that they allow the statutory audit of 1MDB to be carried out.”

Police earlier this month resubmitted investigation papers on 1MDB to the attorney-general, who, last month, reopened the case and requested more information.

Pua said now, there was no reason not to audit 1MDB’s books as police had completed their investigation and handed the papers to the Attorney-General’s Chambers.

He said such an audit was of great urgency and importance, given the allegations of billions of ringgit being misappropriated from 1MDB.

“The fact that 1MDB cannot produce any audited financial statements since March 2012 further rubbishes Najib Razak’s pre-budget defence and praise of 1MDB, and the audacious claim that 1MDB will soon ‘return to profitability’.

It can’t even produce its own accounts, so what profit is the prime minister talking about?” – November 21, 2017.

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  • A nation’s sovereign wealth fund embroiled in the grandest theft of public funds the world has never known is now in the dire state of not possessing any audited accounts for the past 5 years (since March 2012) – what kind of country would tolerate its PM and his government to stay in office without a scratch, as if the entire fiasco is a non-issue?
    Isn’t this the best illustration that the rule of law has already collapsed in this country?

    Posted 6 years ago by Kim quek · Reply