KUALA LUMPUR (THE STAR/ASIA NEWS NETWORK) - The Malaysian police have joined the Attorney-General's Chambers and Malaysian Anti-Corruption Commission (MACC) to investigate allegations of misconduct in strategic investment fund 1Malaysia Development Berhad (1MDB).

Inspector General of Police Khalid Abu Bakar said a task force comprising the three agencies was set up last week.

"The task force was set up three or four days ago and investigations are ongoing.

"We will investigate any allegation of misconduct which has been reported to the authorities," he told reporters after signing the letter of acceptance between the Malaysian government and University of Derby at the Cheras police academy.

Last week, the Cabinet was briefed by 1MDB and its auditors Deloitte on a number of allegations made against the strategic investment fund.

Prime Minister Najib Razak, who is Finance Minister, said in a statement that a report by the Auditor-General would be passed for transparent inspection to the Public Account Committee, which is fully bipartisan.

The MACC will investigate the accounts of 1MDB if there is any indication of irregularities and wrongdoing involving the fund.

MACC chief commissioner Abu Kassim Mohamed said the commission would await the full report on the matter from the Auditor-General and the Public Accounts Committee (PAC) before taking any action.

"Look back at the government statement by the prime minister. The audit will go inside (and investigate), check, and they will present it to the (parliamentary) Public Accounts Committee.

"If there is a case (of irregularities), they will bring the matter to the law enforcement body (MACC)," he told reporters after witnessing the signing of the Corporate Integrity Pledge at the Computerised Vehicle Inspection Centre at Section 28 here.