Malaysia's 1MDB audits from 2010 to 2012 did not give 'true and fair' assessment, KPMG says | Reuters

Malaysia's 1MDB audits from 2010 to 2012 did not give 'true and fair' assessment, KPMG says | Reuters:

Auditors KPMG have notified Malaysia’s scandal-hit state fund 1Malaysia Development Berhad (1MDB) [TERRN.UL] that its audits for three years do not provide a “true and fair” assessment of the company, the fund said on Tuesday.

1MDB, which faces money-laundering probes in at least six countries, including the United States, was founded by former prime minister Najib Razak, who suffered a stunning election defeat by Prime Minister Mahathir Mohamad last month.

In reopening an investigation into the 1MDB case, Mahathir has vowed to bring back billions of dollars allegedly siphoned out of the fund and punish those responsible.