We dont need Wikileaks here. The 'insiders' at the Securities Commission are doing it, and I personally think they are pro enough at getting all evidence that points to 'more and more' irregularities taking place. Awkwardly, chairwoman Zarinah Anwar seems to know all about it.
And the government, the Prime Minister, Finance Minister, Bank Negara and other governing bodies are keeping mum, as if nothing happened. Even the Opposition never raised the issue, probably due to no knowledge of it or how such issues can be manipulated.
The Audit Oversight Board (AOB) involving the SC, Finance Ministry and accounting firm PriceWaterhouseCoopers (PwC) contains what is termed as 'a major fraud' due to the manner it was carried out.
Second Finance Minister Ahmad Husni Hanadzlah signed and approved the SC Audit Oversight Board (Fees) Regulations 2010 on April 13, 2010 after Zarinah signed it on April 8. The regulations were to come into force on April 15, 2010.
Despite the fact that it cannot be enforced without Ahmad Husni's approval and signature, the AOB went ahead and registed PwC on April 1st, which clearly contravenes the date of AOB enforcement.
"Not only is there evidence of the biggest regulatory scandal this country has seen this year, there is also a major accounting fraud perpetrated by PwC with regards to IM in Malaysia, which needs someone to explain," according to Zarinahtakesapaycut. (I believe a group of SC personnel are behind this site).
PwC does the audits for more than 100 public-listed companies in Bursa Malaysia, and the question is, are the taxpayers, shareholders and the Malaysian public in general are expected to accept that everything was fine despite all evidence to the contrary?
"Is this not as important as APCO, if not more important to investors confidence, transparency and economic robustness of the country? Will this not have an impact on hundreds of billions of the rakyat's money placed in the public listed companies by the EPF?," it said.
While demanding and answer from the government, it also suggested the Opposition should look into this as well as it involves the dignity of the country's corporate governance.
Well, I also agree that Prime Minister Datuk Seri Najib should read the website and take necessary actions.