1Malaysia Development Bhd (1MDB) today said the allegation that the company had refused to allow Deloitte to begin auditing is absolutely incorrect.

President Arul Kanda Kandasamy said the board and management of 1MDB met the international auditing firm as early as February this year to discuss commencement of an audit after the financial year ended March 31, 2015.

"In fact, the audit of a major 1MDB subsidiary, Edra Global Energy Bhd, has already commenced and is well under way," he added in a statement here, today.

Arul Kanda, who is also the Group Executive Director of 1MDB was referring to a statement issued today by Petaling Jaya Utara Member of Parliament, Tony Pua and reported in a news portal.

Tony Pua was quoted as saying that the Finance Ministry and company directors were "refusing to allow Deloitte" to begin auditing 1MDB.

1MDB is currently undergoing a thorough review and investigation of its accounts by the National Audit Department, said Arul Kanda.

"Management time is fully focused on this, given the significant public interest to complete the review as soon as possible.

"The board has maintained regular dialogue with Deloitte on the audit process and a further update will be issued when appropriate," he added.