All Singapore Stuff / KPMG auditors claim AHTC made millions in improper payment

All Singapore Stuff
All Singapore Stuff
All Singapore Stuff
All Singapore Stuff

Until today, despite all the reports of WP’s town council accounts from independent auditors, the anti-PAP camp still choose to believe that it is a case of PAP fixing WP, do not hold WP responsible for their wrongdoings.

Reference:

“In the report, KPMG said improper payments to FMSS and FMSI alone amounted to over S$1.5 million, and AHTC also overpaid when it appointed FMSS as its managing agent by more than S$1.2 million.

Shareholders of FMSS, who also held senior positions at the town council, also approved 132 payment vouchers amounting to more than S$23 million from the town council to the company — effectively “approving payments to themselves”. AHTC was also found to have breached the Town Council Financial Rules in payments to third-party vendors, such as by engaging a higher-priced consultant without calling for a tender.

Such flawed governance has potential to “conceal and hinder the detection and identification of all instances of proper payment”, said the auditors. As a result, it was unable to conclude whether the improper payments and the amounts that ought to be recovered identified in the report are exhaustive.”

http://todayonline.com/singapore/ahtc-made-millions-improper-payments-some-shortcomings-if-deliberate-could-amount-criminal

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