Malaysia's Ministry of Finance admits Delloites 1 MDB audit is in error.: Delloites "true and Fair " opinion proven to be invalid

As reported by Malaysiakini:

The Finance Ministry(Malaysia) has corrected its parliamentary written reply in March that said the US$1.1 billion (RM3.97 billion) transferred by 1Malaysia Development Bhd (1MDB) from Cayman Islands to Singapore was in cash.

According to the latest written reply to Petaling Jaya Utara MP Tony Pua, the Finance Ministry said the money that was "redeemed" was in the form of assets in US dollars.
http://www.malaysiakini.com/news/298963


The problem for the Malaysian Ministry for Finance and indeed the Government is that the admission and consequent contradiction  ,regardless of the motives ,means that the  Delloites audit  of  the 1 MDB financial statements for at least the year ended 31 March  2014 is probably worthless. The audit was quite likely based on that sum of US$1.1 billion (RM3.97 billion) being cash, not anything else.
It is a material amount, so any admission that it is not in cash throws considerable doubt on the audit opinion, that the 1 MDB  financial statements provide a "true and fair view" of 1 MDB's financial position. 
END



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