PAC: KPMG stands by their work on 1MDB

KUALA LUMPUR: Auditing firm KPMG stands by their work on 1Malaysia Development Berhad's (1MDB) accounts from 2010 to 2012 when testifying to the parliamentary Public Accounts Committee (PAC).
PAC chairman Datuk Nur Jazlan Mohamed (pix) (BN-Pulai) said KPMG has been very cooperative and the committee got a wealth of information from the firm, even though the hearing has not yet ended.
"We have got some very useful information that can be used to ask other questions to the management of 1MDB and its board of directors," he added.
He said PAC is specifically looking at issues of government, prudence and mismanagement during the years when KPMG was 1MDB's auditor as many major investment decisions were made during their time.
He said they have hundreds of questions for KPMG and during the time of the press conference, less than half had been asked and they are continuing the hearing after addressing reporters.
Based on the information from KPMG, he said PAC will call up 1MDB president and group executive director Arul Kanda Kandasamy and former CEO Datuk Shahrol Halmi separately.
He said Shahrol will be called up on Aug 4 while Arul Kanda will be summoned on Aug 5, and both should expect a long hearing due to the number of questions PAC has.
He said a notice had been sent to them and PAC will not tolerate any excuses as they now have six to seven weeks to prepare.
Additionally, 1MDB interim CEO Hazem Abdul Rahman will also be summoned on Aug 6 based on new information, although the notice for his attendance had not yet been sent.
Nur Jazlan said PAC will also call former board of directors members Tan Sri Mohd Bakke Salleh and Tan Sri Azlan Zainol to testify on Aug 17 and other members currently on the board on Aug 18.
He said KPMG managing partner Datuk Johan Idris is not involved in the probe against the firm and Deloitte by Malaysia Institute of Accountants (MIA) as he is also the organisation's president, presenting a conflict of interest.