KUALA LUMPUR (Bernama): KPMG has agreed to a settlement valued at RM333mil (US$80mil) to resolve all claims related to its fiduciary duties on auditing of 1Malaysia Development Bhd (1MDB) accounts for the period of 2010 to 2012, says the Finance Ministry.
The settlement with KPMG, valued at more than 800 times the audit fees earned by KPMG, represents one of the largest 1MDB-related settlements by an audit firm in South-East Asia, it said in a statement.
Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said this demonstrates the government’s resolve to diligently pursue recovery efforts against all parties involved in 1MDB and its related entities.
"The recent political developments have not affected the Malaysian government's determination toRead More »
Friday, 24 February 2017 On Thursday some 22,000 people living near Kadena Air Base were collectively awarded $265.9 million in an aircraft-noise settlement. This is the largest reward levied in a noise case against the US military in Japanese history, with each plaintiff to receive roughly $12,000. The Japanese court …Read More »