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Tag: PwC

  • Andrew Loh: Are Actions On AHPETC Really Not Political?

    Andrew Loh: Are Actions On AHPETC Really Not Political?

    If you haven’t been following the AHPETC vs MND court case, it is like this, in a nutshell:

    MND wanted to appoint an independent accountant to oversee AHPETC’s spending of S&C grants. MND laid out some terms. AHPETC agreed to all the terms, except one – that PriceWaterhouseCoopers (PwC) not be the accountant, which is what the MND wants.

    AHPETC explained that this is because PwC was also the auditor engaged by the AGO to go through AHPETC’s account during the AGO audit.

    A potential for bias, AHPETC said. This is indeed a reasonable concern. AHPETC suggested having a retired judge or a senior counsel appoint the independent accountant instead.

    AHPETC made all these suggestions in a letter to the MND on 29 April.

    But MND refused, and preferred to take AHPETC to court.

    I think you can judge for yourself if all this is not political and a waste of everyone’s time.

    Andrew Loh On AHPETC MND Saga

     

    Source: Andrew Loh

  • Independent Accountants For AHPETC Should Be Free Of ‘Apparent Bias’

    Independent Accountants For AHPETC Should Be Free Of ‘Apparent Bias’

    Should the High Court decide that independent accountants should be appointed to safeguard government grants to Aljunied-Hougang-Punggol East Town Council (AHPETC), it should not involve the accounting firm involved in the Auditor-General’s Office report that found major lapses in the town council’s accounts.

    AHPETC’s lawyer Peter Low argued that this is to guard against the possibility of “apparent bias”. The Ministry of National Development (MND) will also be the accountants’ paymasters, he added.

    In March, the ministry proposed that the court appoint Mr Ong Chao Choon and Mr Chan Kheng Tek from accounting firm, PricewaterhouseCoopers, to be Independent Accountants of AHPETC, or any other people the Court deems fit and proper.

    In February, the Auditor-General flagged major lapses in “governance and compliance” following an audit of AHPETC’s accounts for the Financial Year 2012-13.

    The hearing continues.

     

    Source: www.todayonline.com