Auditor takes MIA to court over 1MDB-linked suspension

Auditor takes MIA to court over 1MDB-linked suspension

He says the Malaysian Institute of Accountants disciplinary board did not interview the relevant parties, namely 1MDB or the Treasury, before charging him.

Former Deloitte auditor Ng Yee Hong was found guilty of failing to discharge his professional duty in preparing 1MDB’s 2014 financial report. (AP pic)
KUALA LUMPUR:
A former 1MDB auditor from Deloitte has applied for a judicial review before the High Court to quash the decision by the Malaysian Institute of Accountants (MIA) disciplinary board to suspend him for two years.

In 2019, the board had issued the two-year suspension on Ng Yee Hong, and ordered it to commence from Sept 5 the same year. The decision was upheld by the board in October last year after Ng made an appeal.

Ng was found guilty of failing to discharge his professional duty in preparing 1MDB’s 2014 financial report as he did not obtain sufficient evidence on the sovereign fund’s purported investments in a Cayman Islands financial institution.

Besides the suspension, Ng was also ordered to pay a RM5,000 fine and RM200,000 in costs for the disciplinary proceedings.

In his appeal, Ng claimed there was no basis for the complaint for which he was found guilty by the board.

“The complainant admitted during the inquiry that he did not have personal knowledge of the matter about which he had made a complaint.

“The complainant also said he had formed conclusions that I was guilty of professional misconduct based on unverified media reports,” Ng said.

MIA began a probe against him after receiving a complaint from one Andrew Anand Solomon Devesahayam on March 31, 2015. The complainant also alleged that Deloitte PTL, which Ng is attached to, failed to report money laundering breaches to Bank Negara Malaysia.

According to Ng, the charge framed against him was vague as it did not refer to the name of the purported “financial institution” located in the Caribbean.

“The MIA investigation committee did not interview the relevant parties, such as 1MDB and the Treasury, before bringing charges against me,” he said.

High Court judge Ahmad Kamal Md Shahid granted leave to Ng to proceed with the judicial review. The court fixed April 1 for re-mention.

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