Malaysia Says Deloitte to Pay $80M Settlement Over 1MDB Issue

LONDON, ENGLAND - OCTOBER 02: The Deloitte offices stand in 2 New Square on October 2, 2018 in London, England. The government has called for a review of the British auditing industry after a series of scandals including the collapses of Carillion and BHS revealed serious failures in the auditing process. The 'Big Four' accounting firms, which are Deloitte, PwC, Ernst & Young (EY) and KPMG audit the large majority of the UK's largest listed companies. (Photo by Jack Taylor/Getty Images) Photographer: Jack Taylor/Getty Images Europe

at News | World

by BLOOMBERG

Malaysia’s Finance Ministry said Deloitte PLT has agreed to a 324 million ringgit ($80 million) settlement to resolve all claims related to their audit of 1MDB and its former unit SRC International, according to a statement Wednesday.

The out-of-court settlement with Deloitte will expedite the payment of monies, to fulfill 1MDB and SRC’s outstanding obligations, which would otherwise be delayed by potentially protracted and costly court battles.

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