Ahad, 10 April 2016

Sebut Pasal Hospital ~ Harta Kena Potong..!

1MDB terminated the services of two audit firms after the auditors asked for documents the state investment firm failed to provide, the PAC report said. Buildings of the global ‘Big Four’ accounting firms (clockwise from top left) KPMG, Ernst & Young, Deloitte & Touche and PricewaterhouseCoopers are pictured in this combination photograph. — Reuters pic

Sebut jer buang..! Sebut jer tendang..!

PAC report: 1MDB’s auditors sacked after asking for documents 

1Malaysia Development Berhad (1MDB) sacked two audit firms in four years after the auditors asked for documents the state investment firm failed to provide, the Public Accounts Committee’s (PAC) report said.
The first two auditors — Ernst & Young and KPMG — no longer acted for 1MDB after clashes in opinions with the state investment firm’s board, particularly when 1MDB failed to provide documents to back some of its investments, according to the PAC’s report on 1MDB tabled in Parliament today
“This situation is the second time in four years where the auditor’s services were terminated after the final financial year due to differences in opinion over the valuation of an investment,” the PAC said when commenting on KPMG’s termination of service in 2013.
Ernst & Young (EY) was appointed by 1MDB’s predecessor, Terengganu Investment Authority, on March 25, 2009, but had its contract terminated on September 15, 2010, before 1MDB submitted its first financial statements for the financial year ending March 31, 2010, the report said.
The parliamentary panel cited EY’s Audit Planning Memo dated March 26, 2010, where the audit firm was shown to have requested for documents and made queries relating to 1MDB and PetroSaudi International Limited (PSI)’s joint venture firm, 1MDB PetroSaudi Ltd.
Among other things, EY had asked for 1MDB’s due diligence report and sought additional information to evaluate the reasonableness of key assumptions regarding PSI’s estimated asset value, as well as the joint venture firm’s financial statements to determine its shares, assets, liabilities and contingent liabilities.
EY had in a 1MDB board meeting on April 5, 2010, raised the need for such documents, PAC said, as it noted that the audit firm had not found any documents regarding the actual owner, value and risks on the assets pumped in by PSI.
But 1MDB “did not have sufficient documents” on the day of the meeting to prove the assets owned by the joint venture firm, PAC said.
“The position taken by Messrs EY had resulted in an uncomfortable situation for the 1MDB management and the shareholders and Board of Directors decided to terminate the services of Messrs EY,” the PAC said.
PAC added that 1MDB’s subsequent board meeting on October 4, 2010 – after EY’s termination – showed that the joint venture firm had yet to prepare its financial statements, with the then 1MDB CEO Datuk Shahrol Azral Ibrahim Halmi convincing the board that the financial statements will be discussed at future meetings after it is received. But no such discussion papers were shown to have been presented in any 1MDB board meetings, the PAC said.
As for KPMG which was appointed on September 15, 2010, it had its contract terminated by 1MDB’s shareholders on December 31, 2013, and also before the submission of 1MDB’s 2013 financial statements.
Among other things, a November 29, 2013, minutes of a meeting between KPMG and 1MDB showed the latter’s CEO Mohd Hazem Abd Rahman attempting to convince the audit firm of 1MDB’s investment in Bridge Global SPC through Brazen Sky Ltd.
“However, Messrs KPMG was dissatisfied as there were no evidence in writing,” the PAC said after listing the documents that KPMG had sought from 1MDB on the investment.
Following the widening rift between 1MDB and KPMG, 1MDB’s board passed a resolution on December 31, 2013, that said both firms mutually agreed to remove KPMG as auditors, the report showed.
After its termination, KPMG wrote to 1MDB’s management on January 6, 2014, raising concern over the latter’s approach in only attempting to verbally convince them regarding its investments instead of providing the required documents.
As of December 31, 2013, Deloitte was appointed as 1MDB’s auditors on the recommendation of 1MDB’s Risk Management and Audit Committee and remains so, as of last October 31.
Deloitte has audited the 2013 and 2014 accounts of 1MDB, while the latter’s 2015 financial statements have yet to be audited.
1MDB had obtained an extension until this September 30 to file its audited financial statements to the Companies Commission of Malaysia, with the firm claiming that the audit could not be carried out as many of the financial documents remained in the hands of the authorities following a raid last July 8.
Api dah marak beb..! dah terbakar tu..! Tak sempat padam..!
Lu Fikir La Sendiri!!!

20 ulasan:

  1. https://www.youtube.com/channel/UCQttVOWepBeuoBUCF5xp7Cw?nohtml5=False

    BalasPadam
  2. How can Najib not be held accountable when he is the Chairman of 1MDB as well as the Finance Minister.

    If there is no issue then why does it take so very, very long to explain the problem, and doing it very casually one at a time. Being Chairman doesn't mean that when the management bungles, he gets away scott free.

    mas ... mana ada sistem.

    BalasPadam
    Balasan
    1. Eagerly awaiting to hear what the One and Only Kejora Liberal will correspond to your statement, pal.

      Padam
    2. There you are...looks like the chickened Kejora Liberal has again no courage to face the music or shall we say he's totally lost to spin this time around.

      Padam
    3. He dare not come in this column but choose to appear elsewhere, yet twice he got himself blasted over his stupid comments. Yes Sir... he definitely deserves it...!!!

      Padam
    4. Sbb dia bodoh. Kat parlimen pun tak reti jawap. Tanya lain jawap lain. Matematik fail. Bab najis pun fail... Tapi tang duit dia sangat pandaiiiii...

      Padam
  3. tanya jer tak jawab http://sarawakia.blogspot.my/2016/04/video-deklarasi-anak-muda-selamatkan.html?m=1

    BalasPadam
  4. As PAC member Tony Pua, who has seen the secret Auditor General’s Report, has put it:

    Dato’ Seri Najib Razak’s signatures are littered all over 1MDB as he was the ultimate decision maker who signed off resolutions to sack 1MDB’s auditors, Ernst & Young and KPMG, to invest US$1.83 billion in the failed Petrosaudi joint venture, to borrow US$6.5 billion of bonds via Goldman Sachs and to overpay for the RM12.1 billion of power assets.

    So, what is all this bluff and bluster about the PAC report letting the PM off the hook?Because if Najib had not signed every single transaction of 1MDB, then none of the above could have happened under the rules of the company itself.

    -Sarawak Report-

    BalasPadam
  5. Korang ni memang tak faham la pasal 1MDB ni...
    Laporan PAC telah menjelaskan pengurusan 1MDB yg lemah.

    Isunya ialah tadbir urus yang tidak cekap dan pengurusan modal yang lemah. Tiada jenayah atau penyelewengan.

    Itu berlaku di semua organisasi. Sebab tu byk organisasi belajar dari kesilapan mereka.

    BalasPadam
    Balasan
    1. Boleh belajar dari cara-cara spin dan penggunaan kuasa dari penasihat 1MDB.

      Padam
    2. Padan Muka Kejora Liberal kena sebiji.
      Tahniah 7:26, Teruskan berjuang demi kebenaran.

      Padam
  6. Betul ke apa Tony Pua cakap tu???

    BalasPadam
  7. Boleh belajar cara2 nk songlap!
    Masukkan duit dlm syarikat tu syarikat ni...
    Tup tup masuk akaun sendiri syarikat tah kemana.
    Lahabau!

    BalasPadam
  8. Anon 9.29 dan samdol suman amat
    cara nk songlap duit tanyo lim guan eng maa
    cara nk jadibarua pakej yahudi pluralism/syiah/komuniz tanya pandikutty mamak tua maa...
    cara2 nk jadi barua lawat jer blog putramerdeka yg dijajah yahudi dan macai2 skali.... ahaks...

    BalasPadam
    Balasan
    1. Aku pun nak alih isu sekejap.

      Aku sedih. Dalam kita ghairah membahas isu-isu semasa ketika ini, terutamanya mengenai Laporan PAC: 1MDB kita sudah lupa kepada satu isu yg aku kira amat besar juga, yg menjejaskan kerukunan dan kesejahteraan negara kita juga. Maaf jika aku bangkitkan di sini kerana aku tidak mahu kita lupa budi dan jasa seorang Tok Arab yg menderma sejumlah 2.6b atau 2,600juta ringgit (atau mungkin juga ada ramai lagi dan banyak lagi sumbangan mereka).

      Amat malang sekali derma sebegitu besar yang dihulurkan kerana kagum dengan cara Mohd Najib tegakkan syiar Islam itu diputarbelit oleh mereka yg tak bertanggungjawab hingga mencemar maruah Perdana Menteri kita. Amat malang bila isu derma ikhlas yg sepatutnya membawa rahmat dan memberi manfaat utk negara dan agama itu digunakan untuk memperleceh dan memperlekeh kewibawaan Mohd Najib yg diberi penghormatan dan kepercayaan yg tidak berbelah bagi. Aku tidak mahu usaha2 murni dan suci Mohd Najib utk perjuangkan kesucian agama, kebajikan rakyat jelata terjejas, apalagi menemui kegagalan. Dan aku tidak mahu dan tidak sanggup melihat Mohd Najib tersingkir dari jawatannya sebagai Perdana Menteri Malaysia semata2 kerana isu derma 2.6b yg suci murni itu.

      Oleh yg demikian, aku berharap sangat Timbalan Perdana Menteri kita yg pernah menemui penderma tersebut supaya dapat membawa Tok Arab dermawan itu ke Malaysia untuk beri penerangan yg pastinya

      Padam
    2. Dahsyat sungguh bahasa jiwa bangsa sdra QalamQabut kita, betul2 umpama serampang 2 mata. Dalam pada dia guna syair2 indah, di hujung tombak ada racun berbisa yang tidak ada penawar.

      Saya tabik hormatlah....!!!

      Padam
    3. Puiiih laa... Penegak Islam kunun... Tu Dr Zakir Naik dibatalkan program kat melaka apa dua buat...

      Padam
  9. Ye lah....penyamun bugis hippo pun dah jemput yahudi bertapak kat bumi malaysia ni kan samdol 10:06...

    BalasPadam
    Balasan
    1. Kejora Liberal mengigau cakap sorang2 (06:00/09:29/10:06).
      Kena lagi sebiji, padan muka. Tahniah 10:23, Salam perjuangan.

      Padam
  10. Tq kang Man...
    Sya geli la dgn pantun awak haritu.

    BalasPadam