By Azmi Arshad.
First of all, I don’t understand why there is such a fuss of why money is kept in Singapore. I’m too lazy to explain why not but so what if it’s in Singapore?
How does that indicate fraud? Even more stupid or zombistic is for anyone to think 1MDB said the money was in a Singapore account because then nobody would be able to find out there is actually no money in the account.
Okay, then you may say to me: “Eh podah lah Azmi. Do you know there is no money in the account? 1MDB supplied false bank statements. Come on lah machai…. are you blind or what. Masih nak tegak benang yang basah. You’re too arrogant to admit you’re wrong.” (Do I really sound arrogant? I do? Good. That’s because I’m never wrong. Oh alright, almost never wrong).
False bank statements? Even the auditors were fooled? The auditors were also crooks? Hmmmm….. No lah zombie, you can’t compare Enron to 1MDB and I’m too lazy again to explain why not but let’s just say that 1MDB isn’t a company issuing tons of sales invoices everyday where forged ones could easily escape audit test samples.
Anyway, when the BSI “false bank statement” news came out, I just rolled my eyes. Zombies will think that the “false bank statements” would be the nail in the coffin for 1MDB and the Prime Minister — it’s clear proof that 1MDB lied (as far as zombies are concerned).
Surely Najib would have to step down. But he didn’t because he must have been briefed by 1MDB and the auditors that Tony Pua and Rafizi were just having another common wet dream.
At that time I didn’t have much time for Facebook because I was taking my beloved wife for treatment on a daily basis (lasting a few hours each time) and that I had promised her no FB after Maghrib. (A story for another day).
So I didn’t go trolling on walls of zombies or pick fights with pentaksub you-know-who supporters. And when PM was being attacked over this I thought serves him right anyway for keeping mum and not fighting back.
What irked me a bit though was that even 1MDB and Deloite did not respond. Not that I blame them too much because for every question that is answered, 10 more will come up giving them only more work to do. (Zombies will only believe Toilet Tabloids).
Okay, now let me tell you how I knew the “false bank statements” was just another one of the Opposition’s wet dreams. It only took me 5 seconds to know, not because I’m smart but because I was once an auditor myself (with KPMG, not Arthur Andersen or Deloite ya) being paid peanuts working more than 10 hours a day and weekends. Tak boleh claim overtime.
Audit standard procedures obviously includes verifying bank balances. Yes, we review the cash book, bank book / bank account ledger, bank statements and bank reconciliations but the verification does not stop there.
1. Usually on the first day of the audit we send out “Standard Request Letters” to all the banks of the client and do the the rest of the field work while waiting for the replies to come back from the banks.
2. Now, the client cannot intercept the replies from the banks and change the numbers in the Standard Letter. Why not? Because the return address will be to the audit firm’s office.
3. What this means is that even the client (such as 1MDB) won’t know the content of the bank’s reply. No bank is going to be so reckless or stupid to reply there is money in the client’s bank account when there isn’t any.
4. The bank’s reply will not only tell the auditor how much money there is but also of any loans (with that bank) that the client might have “forgotten” to tell the auditors about (to hide their liabilities).
5. In other words, false bank statements concocted by even Tony Pua, Rafizi, the Sarawak Report and reported in Toilet Tabloids (TMI, MKini, MMO, FMT etc) will not fool the auditors about the amount of cash or loans with the bank.
6. So if 1MDB’s accounts show they had RM6.6 billion cash on 31/3/2013 and RM3.8 billion cash on 31/3/2014 then that’s truly how much cash there was. THERE IS NO MONEY MISSING. There is no such thing as the DISAPPEARANCE of RM42 billion or RM27 billion or RM7 billion or whatever number you-know-who will mention next.
7. Why can’t you just wait for the AG to release his report and then for PAC to do their investigation? Why keep asking the same and obsolete questions over and over again, even questions that have already been answered?
Hasn’t it occurred to you that any Tom, Dick & Harry can create false bank statements and send them to the Sarawak Report who then shows those false statements to BSI knowing fully well that the bank will say they are false.
Why can’t you just trust the statutory auditors over Tony Pua and Rafizi? Don’t you know the track record of spins and lies of Dumb & Dumber? I must admit though that it can sound somewhat more convincing coming from you-know-who and that’s what made even UMNO supporters turn against 1MDB and the Prime Minister. However, I am pretty sure that you-know-who knew they were false false bank statements.
I don’t know how many friends I will lose by the time AG and PAC issue their reports.