Malaysia orders independent review of 1Malaysia Development accounts

[KUALA LUMPUR] Malaysia's Prime Minister Najib Razak said on Wednesday that he has instructed the country's Auditor General to independently verify the accounts of state development company 1Malaysia Development Bhd (1MDB).

The subsequent report by the Auditor General will undergo a transparent inspection by the Public Accounts Committee, a bipartisan unit, Mr Najib said in a statement.

"If any wrongdoing is proven, the law will be enforced without exception," he said.

The cabinet had been briefed by 1MDB and its auditors Deloitte after allegations over certain third-party transactions the fund had made.

"Cabinet expressed confidence that no wrong-doing has been committed within 1MDB," the statement said.

REUTERS