Malaysia fines Deloitte for breaches linked to 1MDB
Offices of Deloitte are seen in London, Britain, September 25, 2017.
PHOTO: Reuters
PUBLISHED ONJanuary 29, 2019 11:47 PM
KUALA LUMPUR - Malaysia's securities regulator on Wednesday said they had fined Deloitte for committing four breaches related to a 2.4 billion ringgit (S$790 million) sukuk programme issued by a firm linked to scandal-tainted state fund 1MDB.
Deloitte was found to have failed to discharge its statutory obligations despite having found irregularities when auditing Bandar Malaysia Sdn Bhd and its holding company, 1MDB Real Estate Sdn Bhd, in 2015 and 2016, the Securities Commission said in a statement.
On Saturday the commission said it was reviewing the conduct of auditors that had handled the accounts of 1Malaysia Development Berhad, now the subject of money laundering investigations in at least six countries.
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