SSM wants KPMG to clarify status of 1MDB audit reports

PETALING JAYA: The Companies Commission Malaysia (SSM) will be seeking further clarification from KPMG on the status of audit reports of 1Malaysia Development Bhd's (1MDB) financial statements, following news reports that said the statements between 2010 and 2012 were inaccurate.

SSM said in a statement issued an hour before midnight that it would seek an explanation from KPMG on the issue of reliability of the financial statements filed with them.

SSM said as the corporate regulator tasked with the enforcement of the Companies Act 2016, it views the media reports with concern. It went on to say that it will ensure that necessary and immediate action is taken to comply with the Companies Act 2016. This action may include having the relevant parties rectify the financial information filed with the companies registrar.