Reveal details of 1MDB settlements, says academic

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In the latest 1MDB settlement, auditing firm KPMG has agreed to pay the government RM333 million.PETALING JAYA: An academic has urged the government to ensure greater transparency in order to build trust and confidence in the country’s institutions and the rule of law.Geoffrey Williams of the Malaysian University of Science and Technology said transparency was not limited to the government but was also needed in the private sector which was subject to regulatory frameworks.He was commenting on settlements between the government and certain companies over the 1MDB scandal.In the most recent settlement, auditing firm KPMG agreed to make a RM333 million settlement with the government to resolve claims of alleged negligence and breach of contract in its audit of 1MDB’s financial statements. Geoffrey Williams.The settlement is valued at more than 800 times the audit fees earned by K…