Auditor body says 6 months not enough for 1MDB probe
Institute of Internal Auditors Malaysia president Datuk Shabaruddin Ibrahim says client confidentiality is top-most concern with 1MDB. – The Malaysian Insider pic by Najjua Zulkefli, September 7, 2015.
Institute of Internal Auditors Malaysia (IIAM) president Datuk Shabaruddin Ibrahim said the six months time frame given to the National Audit Department to go through 1MDB’s books was quite short due to the complexity of the issue.
He said the audit process was not as easy, describing it as “dynamic and fluid” and at the same time having to be balanced with the secrecy of the process.
“In audit, six months to a year is too short given the complexity of the process. Like in the case of Bumiputra Malaysia Finance (BMF) it took so many years for investigation to be complete,” he said at a conference on governance, risk and control in Kuala Lumpur today.
“We have to be objective about it. Let the process take place. In Malaysia there is a process. We have to wait for the official results to come out,” he said.
Source: The Malaysian Insider – Auditor body defends KPMG, Deloitte over 1MDB accounts
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