Deloitte fined over company linked to scandal-hit 1MDB | Business – Business Article

Deloitte has been fined 2.2m ringgitt (£415,000) by Malaysian regulators for failures in its audit of a firm linked to the scandal-ridden state fund, 1MDB. The Securities Commission Malaysia said Deloitte was reprimanded because it failed to report the irregularities detected in the Sukuk Murabahah Programme, an Islamic bond issued by Bandar Malaysia Sdn Bhd (BMSB). Deloitte was the statutory auditor for BMSB and its holding company 1Malaysia Development Berhad Real Estate (a subsidiary of state fund 1MDB) for the…

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No-deal Brexit: UK firms ‘praying’ for article 50 extension, says KPMG | Business – Business Article

British firms are “praying for an extension to article 50” rather than face a no-deal Brexit as it emerged that foreign investment has fallen steeply and the outlook for growth has slumped to a six-year low. The Confederation of British Industry said that firms’ reported growth prospects were at their weakest for almost six years, while other research shows the number of acquisitions of UK companies by foreign buyers is falling 11% year on year. The warnings emerged after the…

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