RM2.2m fine against Deloitte over 1MDB-linked audit is valid - court

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The Kuala Lumpur High Court ruled that the Securities Commission's (SC) RM2.2 million fine against Deloitte PLT is correct.Judge Mariana Yahya made this ruling today when dismissing the international audit firm's judicial review against the fine over the alleged failure to flag 1MDB-linked irregularities.The judge issued the ruling during open-court proceedings this morning.On Jan 30 last year, it was reported that the SC fined Deloitte a total of RM2.2 million for four breaches involving the RM2.4 billion bond issued by Bandar Malaysia Sdn Bhd (BMSB), a 1MDB subsidiary, in 2014.In a statement, the securities regulator said Deloitte was the statutory auditor for BMSB and parent company 1MDB Real Estate Sdn Bhd (1MDB RE) for the fiscal year ending Mar 31, 2015 and 2016.Deloitte then filed the legal challenge and was granted leave by the High Court to proceed with the ju…