Arofanatics Fish Talk Forums  

Go Back   Arofanatics Fish Talk Forums > The Guildhouse > Chatterbox > Singapore Politics

Reply
 
Thread Tools Display Modes
Old 18-08-2016, 11:04 PM   #1
AlvinLeong
Dragon
 
AlvinLeong's Avatar
 
Join Date: Oct 2002
Posts: 1,759
Default No duplicate or fictitious payments made by AHTC: KPMG

SINGAPORE: Following its review of 207 payments using a "dummy" supplier code, auditor KPMG has determined that the Aljunied-Hougang Town Council (AHTC) did not make any duplicate or fictitious payments, it said in its latest monthly progress report on the Workers' Party-run town council on Thursday (Aug 18).


The payments, amounting to S$271,598.20, were "supported by documentation relating to purchase and receipt of the goods and/or services", KPMG said.

The auditor added in its report that it noted "weak accounting procedures and supervision". In 41 instances totalling S$248,346.07, the supplier account rather than the "dummy" vendor code should have been used. Seven invoices totalling S$23,197.40 were paid "without the confirmation of the receipt of the goods and services".

In a statement on the AHTC website, the town council's chairman Pritam Singh said: "AHTC accepts the control shortcomings in the use of these codes and will be reviewing its processes to ensure their proper use in future."

The Supreme Court had ordered the Town Council to nominate a Big Four accounting firm to go through its accounts and help fix accounting and governance lapses at the former Aljunied-Hougang-Punggol East Town Council. After the General Election in 2015, the single-seat ward of Punggol East was returned to the People's Action Party, giving rise to AHTC.

KPMG has since issued monthly reports on the town council's progress in mitigating identified shortfalls.


The latest report stated that AHTC has resolved three of 17 audit points raised, as of Aug 18, 2016. "Remedial measures (are) in progress" for the remaining 14.

KPMG also noted in its August report that AHTC needs to review and clear the 1,069,365 transactions recorded in 18 temporary clearing accounts. From July to August, AHTC has investigated 598 of these transactions so far, the report stated.

"AHTC needs to increase the available staff with the requisite expertise so that it could
complete investigation prior to the migration of accounting data to AHTC’s new
accounting system," KPMG said.

AHTC had said in July that it would award the contract for a new Town Council Accounting System "shortly".

- CNA/dl

http://www.channelnewsasia.com/news/...r/3054226.html

That time so many people said what "wah, give $ to friends lah, chin chye chin chye let friends do projects lah".....
AlvinLeong is offline   Reply With Quote
Old 19-08-2016, 10:57 AM   #2
globalcookie
Dragon
 
globalcookie's Avatar
 
Join Date: Nov 2007
Posts: 1,446
Default

$410,000 spent on consultancy of rubbish center, is money well spent.

$387mil (instead of initial estimate of $104 million) was money well spent. Who authorised the extra $283mil and was it thru proper accounting and approval in parliament?

Hundreds of millions, or was it a billion, of 1MDB funds passed thru SINGAPORE banking system. That's not laundering, don't know what's that. No red flag. I think flag bearer fell asleep on the job. BUTT of joke or maybe that's what the financial hub means.

Many many YEARSSSSSSS of accounting lapse across ministriessssssss and stat boardssssssss and TILL DATE still lapse. And what happened when LTK brought up the unauthorized overpayment of Volunteer Police allowance? Sibeh ho explanation. Closed liao, no need yearssss of debate. BO TAI JI eh...

They can do no wrong. BUT APTC, just one combined TC can aired for yearssssssssssssss.....

We have the best government. They can do no wrong. Olympic Gold Medal for them.

Last edited by globalcookie; 19-08-2016 at 10:59 AM.
globalcookie is offline   Reply With Quote
Old 20-08-2016, 09:30 AM   #3
hkh
Arofanatic
 
hkh's Avatar
 
Join Date: Jun 2003
Posts: 113
Default

After running 30 years of train services and generating huge profits year after year, they sold their old trains back to LTA for close to $1 Billion and now waiting to be delisted.........

Also money well spent ?? Only SMRT shareholders are laughing to the bank.........
hkh is offline   Reply With Quote
Old 21-08-2016, 06:28 PM   #4
streetsmart73

Hi there !!! 123
 
streetsmart73's Avatar
 
Join Date: Dec 2010
Posts: 3,895
Default

Quote:
Originally Posted by globalcookie View Post
$410,000 spent on consultancy of rubbish center, is money well spent.

$387mil (instead of initial estimate of $104 million) was money well spent. Who authorised the extra $283mil and was it thru proper accounting and approval in parliament?

Hundreds of millions, or was it a billion, of 1MDB funds passed thru SINGAPORE banking system. That's not laundering, don't know what's that. No red flag. I think flag bearer fell asleep on the job. BUTT of joke or maybe that's what the financial hub means.

Many many YEARSSSSSSS of accounting lapse across ministriessssssss and stat boardssssssss and TILL DATE still lapse. And what happened when LTK brought up the unauthorized overpayment of Volunteer Police allowance? Sibeh ho explanation. Closed liao, no need yearssss of debate. BO TAI JI eh...

They can do no wrong. BUT APTC, just one combined TC can aired for yearssssssssssssss.....

We have the best government. They can do no wrong. Olympic Gold Medal for them.
Local lingo : own self talk own self song mah
streetsmart73 is offline   Reply With Quote
Old 22-08-2016, 11:36 AM   #5
globalcookie
Dragon
 
globalcookie's Avatar
 
Join Date: Nov 2007
Posts: 1,446
Default

Quote:
Originally Posted by streetsmart73 View Post
Local lingo : own self talk own self song mah
Majority endorsed and song will do.
globalcookie is offline   Reply With Quote
Old 10-11-2016, 08:15 PM   #6
globalcookie
Dragon
 
globalcookie's Avatar
 
Join Date: Nov 2007
Posts: 1,446
Default

MND 'deeply concerned' with auditor's report on improper payments made by AHTC
Posted 04 Nov 2016 18:00 Updated 05 Nov 2016 04:07
VIDEOSPHOTOS
914 Email More
SINGAPORE: The Ministry of National Development (MND) and the Housing and Development Board (HDB) have asked the Aljunied-Hougang Town Council (AHTC) to take steps to recover payments which were improperly made.

HDB sent a letter to the Workers' Party-run town council on Friday afternoon (Nov 4), saying that from the report of auditor KPMG, it is clear that town council funds "have been wrongfully paid, in substantial amounts that run into millions".

HDB wrote that immediate steps must be taken to "recover the improper payments, including, where necessary, the commencement of legal proceedings". It also gave AHTC seven days to appoint a suitable third party to recover the funds lost.





Screenshots of HDB's letter to AHTC on Friday.

In a statement on Friday, MND said that is "deeply concerned" with KPMG's findings, describing them as "serious" and noting the "significant loss of public monies". The independent auditor's report, released on Tuesday, noted "serious flaws" in the governance of AHTC. It also identified improper payments of about S$1.5 million from May 2011 to November 2015, of which S$608,911 ought to be recovered. The payments were made to managing agent FM Solutions and Services (FMSS) and contractor FM Solutions and Integrated Services (FMSI).

The auditor's report also said the town council was exposed to "serious conflicts of interest", as the direct owners of FMSS and FMSI also held key management and financial control positions in the town council.

Some of these improprieties, if committed deliberately, "could amount to criminal conduct", the auditor added.

President of the Institute of Singapore Chartered Accountants, Gerard Ee, had said AHTC's checks and balances are "not working". "The report paints a serious overall picture that justifies a deeper investigation,” he told TODAY.

MND said "the Government is considering what other steps are necessary ... in relation to the way some of the town councillors have behaved in dealing with public funds".

"To protect residents’ interests, steps must be taken to recover the monies which have been lost, and to ensure that those who acted wrongfully are held to account," said the ministry.

BALL IS NOW IN AHTC'S COURT: LAWYER

Mr Shashi Nathan, who is a partner in the Criminal Litigation Practice in KhattarWong, told Channel NewsAsia: "When you have missing funds like this, (the town council) needs to try and do a tracing exercise to see how the funds have left the accounts."

Mr Nathan added that at this stage, while the KPMG report is "serious enough", the town council now has to see if the payments can be justified. "If they can't, then they have to explain why these funds were used in that manner," he said.

"The ball is in the town council's court to go through the figures, look at the numbers, look at the flow of funds in and out of the accounts (and see) if they were used for the correct reasons. If they feel there are irregularities, they should deal with it, and if necessary, contact the authorities - if there has been any conduct which has been dishonest," he said. "Ultimately, the town council has control over these funds. The town council must explain."

"It is premature to just look at the KPMG report and come to the conclusion that there is any criminal conduct," Mr Nathan added.

- CNA/gs/dl

Don't know why are they so childish politically.......

As if the > $400,000 consultation for bin center, the few hundreds of millions excess in Youth Olympic, the $2 company, the many ministries and agencies payment problems highlighted by AG, YEARS AFTER F**KING YEARS are all right and this small issue in AHTC is world ending......

This is the kind of government majority of Singaporeans loved!!! Despicable!
globalcookie is offline   Reply With Quote
Old 11-11-2016, 03:13 AM   #7
hkh
Arofanatic
 
hkh's Avatar
 
Join Date: Jun 2003
Posts: 113
Default

They are taking steps to recover Aljunied GRC..........
hkh is offline   Reply With Quote
Old 11-11-2016, 01:09 PM   #8
nutx
Dragon
 
nutx's Avatar
 
Join Date: Sep 2003
Posts: 2,995
Default

Quote:
Originally Posted by globalcookie View Post

Don't know why are they so childish politically.......

As if the > $400,000 consultation for bin center, the few hundreds of millions excess in Youth Olympic, the $2 company, the many ministries and agencies payment problems highlighted by AG, YEARS AFTER F**KING YEARS are all right and this small issue in AHTC is world ending......

This is the kind of government majority of Singaporeans loved!!! Despicable!
I think you may have missed the point.

laspe in Control is different from Unauthorised Related Party transaction.

If you followed through some of those publised cases, at least you will see some complex cobweb model on the flow of fund, mutli-layer companies, etc

In this case, it is just too plain and simple model of direct payment and using dummy account code.
nutx is offline   Reply With Quote
Old 11-11-2016, 03:50 PM   #9
globalcookie
Dragon
 
globalcookie's Avatar
 
Join Date: Nov 2007
Posts: 1,446
Default

Difference is.... Opp can't dig at the other side. So it's just one side calling the other black when that side is unknown. Chinese saying, 'kuan zi liang ge kuo'.

This being SG where Opp are always grind and minced for every little bit, while Opp can't retaliate. If there are any evidence of wrong doing, why isn't PAP gov doing anything to bring WP to justice? HA!

Nvm, say what also no point when most people loves it. The rest just gotta accept it.

Last edited by globalcookie; 11-11-2016 at 03:51 PM.
globalcookie is offline   Reply With Quote
Old 11-11-2016, 07:05 PM   #10
LauLanChu
Dragon
 
LauLanChu's Avatar
 
Join Date: Jul 2006
Posts: 1,561
Default

Quote:
Originally Posted by globalcookie View Post
If there are any evidence of wrong doing, why isn't PAP gov doing anything to bring WP to justice? HA!
This too early to say. KPMG reported there could be criminal intention. Soft stance put forward to recover the money. Now ball in WP court and pending their reply. Hard one might come if not comply.
LauLanChu is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT +9. The time now is 06:39 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Copyright © 2000-2008 Arofanatics.com (Since 30th August 2000)