Najib Testifies He Didn T Pressure Instruct Kpmg To Sign Off 1mdb Audit

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1MDB TRIAL | Former prime minister Najib Abdul Razak has denied pressuring or instructing international auditor KPMG to sign off on 1MDB's 2013 accounts.
The former finance minister told the High Court in Putrajaya today that it was the 1MDB management which had a disagreement with KPMG over whether to sign off on the account.
Najib was refuting deputy public prosecutor T Deepa Nair's reference to former KPMG managing partner Johan Idris' testimony that the accused intimidated him to sign off on the account by Dec 31, 2013.
Deepa was referring to an alleged meeting between KPMG officials including Johan, 1MDB officials and Najib at the then premier's house at Langgak Duta, Kuala Lumpur, on Dec 15, 2013.
Deepa: On this date (Dec 15, 2013), after Johan said cannot sign off on the 2013 account, you instructed KPMG to sign off by Dec 31.
Najib: I cannot instruct an auditor. While I would like an audit to be resolved, I cannot instruct an auditor, that is wrong. Even if I (hypothetically) instructed, they (KPMG) could not follow my instructions. They are independent auditors, and KPMG is one of the most reputable audit firms globally.
‘1MDB management, KPMG fought over documents’
The accused also testified that the 1MDB management team and KPMG were at loggerheads during the meeting over documentation relating to the sovereign wealth fund's overseas investment in Brazen Sky.
Najib was rubbishing Deepa's contention that the accused did not want 1MDB to share documentation sought by KPMG due to the fund being allegedly used for the benefit of Umno and BN.
"No no no, false, entirely false. You see the fundamental difference is that KPMG said they wanted additional documentation, but (1MDB) management said they (KPMG) were asking for excessive documentation, that whatever they (KPMG) have now was sufficient.
"Hence a difference of opinion between (1MDB) management and KPMG, that is what happened, nothing to do with funding (for Umno and BN)," the former Umno president and BN chairperson testified.
Previously during the RM2.27 billion 1MDB abuse of power and money laundering trial, Najib testified that it was 1MDB management that ultimately terminated KPMG's audit service, and went with another audit firm, Deloitte, in 2014.
At the time, Najib had also denied pressuring 1MDB to jettison KPMG.
When Deepa asked Najib why he held meetings with 1MDB officials at his house rather than at the Prime Minister's Office in Putrajaya, the accused responded that it was nothing unusual as it depends on the situation.
Najib: It does not really matter, as I held many meetings, including on budget, at my house. When you are very busy, you only have certain opportunities to meet people. Even official meetings I had at night, especially when preparing for the budget (to be tabled in Parliament). Late-night meetings at my home, nothing unusual about that.
Deepa: I put it to you that it was inappropriate to have (official) meetings at your residence instead of at the office.
Najib: I alternate, sometimes at Seri Perdana and sometimes at residence, it depends. I had lots of meetings at home.
The former finance minister also batted off Deepa's contention that Low Taek Jho (Jho Low) advised him on what to say when meeting KPMG officials, stating "I do not follow Low's instructions, as you implied."
Defence stage
On Oct 30 last year, the criminal court ordered Najib to enter his defence over four abuse of power and 21 money laundering charges involving RM2.27 billion of funds from 1MDB.
Judge Collin Lawrence Sequerah ruled that the prosecution succeeded in establishing a prima facie (answerable) case against Najib over the Minister of Finance Incorporated’s (MOF Inc) wholly owned company.
The judge ruled that Najib had to answer the charges due to the strength of the various 50 witness testimonies during the prosecution stage of proceedings that lasted six years since the trial began in 2019. The accused was first charged in 2018.
Najib is serving a six-year jail sentence over a separate abuse of power case involving RM42 million of funds from SRC International, a former subsidiary of 1MDB.
Lawyer Tania Scivetti acted for Najib. - Mkini

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