Kuala Lumpur, 26 June 2018 – KPMG Malaysia were the statutory auditors of 1Malaysia Development Berhad (“1MDB”) and issued audit reports on the financial statements for the years ended 31 March 2010 to 31 March 2012. On 31 December 2013, during the audit of the financial statements for the year ended 31 March 2013, the firm’s appointment as auditors was terminated and the firm did not have access to information related to 1MDB subsequent to that date.
The Auditor General of Malaysia had carried out a review and audit of issues associated with 1MDB and prepared a report of its findings. This report was classified as secret under the Official Secrets Act 1972, and was recently declassified on 15 May 2018.
Having considered the contents of this report and other relevant information, we had written to 1MDB on 8 June 2018 to inform the company it should immediately take all necessary steps to prevent any further or future reliance on the audit reports prepared by KPMG Malaysia for the financial years ended 31 March 2010 to 31 March 2012.
KPMG Malaysia has, and continues to, fully cooperate with all relevant authorities investigating matters associated with 1MDB. Given the ongoing investigations by the authorities, it would not be appropriate for us to comment further.
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