AHPETC Says NO to PWC Independent Audit, Claiming Possible Bias

Posted on May 5 2015 - 6:44pm by Benita Aw

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Aljunied Hougang Punggol East Town Council (AHPETC) has rejected the appointment of accountants from PricewaterhouseCoopers (PwC) to conduct an independent probe into its finances.

It said in court today that such an appointment could possibly lead to bias.

PwC was involved in producing the Auditor-General’s report that flagged major lapses in AHPETC’s books.

The firm is amongst one of the independent auditors recommended by the Ministry of National Development.

AHPETC’s lawyer Peter Low said PwC had already made findings in the AGO’s report that it was “not fully satisfied” with the validity and propriety of the town council’s transactions with its managing agent.

AHPETC also had disagreements with PwC during the course of the AGO audit.

This is the second day of court proceedings brought by the MNDto have AHPETC appoint independent accountants to audit its finances.

It says it will withhold S$14 million in grants to AHPETC until indpendent accountants are appointed.

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