The Malaysian Insight

POLICE investigation into 1Malaysia Development Bhd has hampered the auditing of the state investor’s financial statements for 2015 and 2016, Finance Minister Najib Razak said today. 

In a written parliamentary reply dated November 16, he said police had yet to return the original documents confiscated from 1MDB’s office on July 8, 2015. The company has requested for the return of the documents, he said. 

“This has made it difficult for the auditing process of the company’s financial statements as the auditor needs to refer to the original documents to verify the financial reports. 

“However, 1MDB’s auditor has initiated the auditing process on the financial statements for the year 2015 and 2016 based on existing information. The estimated time of completion for the auditing process cannot be ascertained due to the ongoing police investigation,” he said.  

The minister said 1MDB was not required to table its  financial statements in the Dewan Rakyat and that those for the years 2009 to 2014 were available on the Companies Commission of Malaysia’s (CCM) website.

“The 1MDB’s financial statements had been audited and filed with the CCM, any party who needs1MDB’s financial statements should refer to documents from the source.” 

“1MDB’s financial statements were never tabled in Dewan Rakyat and are not required to be tabled,” he added. 

The ministry was responding to a query from Pagoh MP Muhyidin Yassin who asked Najib to explain the three-year delay in tabling 1MDB’s financial statements.

In January, 1MDB confirmed the appointment of international auditing firm Parker Randall. It is the fourth auditor appointed by 1MDB after Ernst & Young, KPMG and Deloitte Touche Tohmatsu Ltd. – November 20, 2017.