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What say you? Do you think the news of Malaysia government and 1MDB sue KPMG will give confidence to SD shareholders on Monday for pushing up SD's share price?
In short term, SD investor see there is another sue to KPMG means KPMG has did something not really good. In long term, Malaysians know about 1MDB is good friend with Jho Low the corruption trademark, it may bad impression misleading to SD.
I never never deny the efforts and contributions by KPMG in making sure firms are a issuing a true and fair view of financial accounts. The sue to the audit firm and its partners also show that they have heavy responsibilities.
However, on the otherhand, all these litigation cases show that auditors also can make mistakes.
Good say Calvin Yoo. I hope the KPMG litigation cases improve on the quality, transparancy and accuracy of the financial reporting of Malaysia firms. Despite I hope to see SD's audit dispute can be solved in favor to SD, but on the otherhand I hope this is the true picture and it wouldnt give a precedent to other firms to threaten auditors to simply sign a problematic financial reports.
