PAC wants A-G to focus on five crucial points in 1MDB probe

Nur Jazlan Mohamed

(The Star) – The Public Accounts Committee wants the Auditor-General’s Department to focus on five “crucial points” in its probe of 1Malaysia Development Board (1MDB).

PAC chairman Datuk Nur Jazlan said investigations must include issues surrounding 1MDB’s source of RM2 billion funding to settle its loans with several local banks, the PetroSaudi deal and injection of RM3 billion by the Finance Ministry.

The department should find out whether proceeds of 1MDB’s investment in Cayman Island were channelled back into the country and the reason for the change in the inter­national auditing firm to approve the sovereign body’s accounts.

“The A-G must address these points in the investigations. They are crucial issues which need answers as they relate to 1MDB’s dealings,” he told The Star yesterday.

He welcomed Datuk Seri Najib Tun Razak’s directive for the audit, and said it should start immediately without interference.

“It is a positive initiative by the Prime Minister towards transparency and accountability. The investigations must be thorough and carried out immediately without outside interference from any quarters,” he said.

Asked if a time frame should be set for the investigations, Nur Jazlan said it was up to the A-G to fix the scope and terms of reference.