KUALA LUMPUR (Aug 25): An auditor from KPMG accused of "unprofessional conduct" for refusing to furnish accounts and information relating to 1Malaysia Development Bhd (1MDB) has secured leave from the High Court to challenge the decision made by disciplinary appeal board of the Malaysian Institute of Accountants (MIA).

Ahmad Nasri Abdul Wahab also succeeded in obtaining a stay of the board's decision and for the decision from being published pending the disposal of his judicial review application.

MIA, represented by lawyer Wan Syarihah Razman, did not object to the leave and stay requests. Ahmad Nasri was represented by Ira Biswas.

Justice Datuk Seri Mariana Yahya fixed Sept 9 for case management of the judicial review application.

A file search by theedgemarkets.com showed that Ahmad Nasri, 48, had named MIA, the institute's disciplinary appeal board and the council of the MIA as respondents in the application filed on July 24, for an order to quash the decision by the board last June.

He is also seeking a restraining order against MIA from disclosing the matter pending the full and final disposal of the application, as well as damages, costs and other orders deemed fit by the court.

Ahmad Nasri is accused of not wanting to furnish confidential information in relation to 1MDB to the MIA investigation committee.

In his affidavit in support of his application, Ahmad Nasri claimed that he is prohibited by law to reveal documents sought by the committee under the Financial Institutions Act 2013 and Islamic Financial Institutions Act 2013.

In July 2015, Parliament's Public Accounts Committee (PAC) summoned KPMG and Ernst and Young (EY). Both firms had been terminated as 1MDB auditors.

EY was terminated before it completed the audit on 1MDB's accounts for the financial year ended March 2010 (FY10), while KPMG took over from EY but was terminated in December 2013.

Ahmad Nasri, who is a partner at KPMG, was called by the PAC, along with KPMG managing director Datuk Johan Idris. Ahmad Nasri was said to have signed off the 1MDB accounts for FY10.

Another auditor, Ng Yee Hong from Deloitte PLT, also managed to get a High Court order last Oct 17, barring the MIA disciplinary committee from revealing the outcome of its decision.

Ng was said to be involved in 1MDB's audit for FY13 and FY14.

EdgeProp Malaysia Virtual Property Expo 2020 (VPEX 2020) is happening now! Find out more exclusive projects and exciting deals here

Stay safe. Keep updated on the latest news at www.EdgeProp.my 

Click here for more property stories.

SHARE
RELATED POSTS
  1. AME Elite Consortium appoints Tan Teck Eng as group CEO
  2. Landowner secures appeal to call four witnesses in Penang 1MDB suit on Air Itam estate
  3. UHY appointed as Ivory Properties' auditor following KPMG's resignation