Auditors: No 1MDB accounts are true and fair

Mired in controversy: KPMG dismissed the reliability of its audit of 1MDB accounts after going through the recently declassified Auditor-General’s report on the fund. — Reuters

PETALING JAYA: The accounts of scandal-ridden 1Malaysia Develop­ment Bhd (1MDB) cannot be relied on from the time of its inception following KPMG’s move to say its previous opinion on the state of the fund’s books could not be relied on.

KPMG, which signed off on three unqualified audit reports for 1MDB, has informed its board of directors that the financial statements audited did not reflect a true and fair view of the company.