PAC wants 1MDB audit to start immediately

(Bernama) – The Public Accounts Committee (PAC) welcomes the instruction from the Cabinet for the National Audit Department to carry out an audit on 1Malaysia Development Berhad (1MDB).

Its chairman, Nur Jazlan Mohamed said he was happy with the latest development and hoped the department could immediately carry out an audit on the company owned by the Finance Ministry.

Auditing 1MDB would facilitate the tasks of the PAC when carrying out proceedings on the company when it was asked to face the company later, he said in a statement tonight.

“I hope there is no interference from any quarters for the National Audit Department to carry out auditing on the 1MDB and let the department determine the scope of its auditing but it must include the five points that the PAC wants the department to concentrate on,” he said.

He said the five points were the source of funds amounting to RM2 billion obtained by the 1MDB in settling its loans from several local banks, the new injection of funds from the Finance Ministry (MoF) totalling RM3 billion and the 1MDB investment agreement in the company PetroSaudi.

Subsequently, whether the proceeds of the 1MDB investment in Cayman Island had been brought back to Malaysia and the change in the international auditing firm to approve the 1MDB accounts.

“I sent a letter to Tan Sri Ambrin Buang (the Auditor-General) last Friday, and the approval of the Cabinet today was timely.

“The PAC now has the basis based on the audit investigation carried out by the department, a body that is truly neutral and has no interest in 1MDB and it enables the PAC Report on the 1MDB to be more complete, transparent and credible before it is tabled in the Dewan Rakyat,” he said.