Workers' Party ought to be really thankful to MND and HDB for their
insistence on independent accountants from one of the Big Four to
straighten out their accounts for them instead of putting up such a huge
resistence in the beginning, wasting time and taxpayers' money, playing
victim and calling it politically motivated.
Sylvia Lim had declared at that time that they did not see any need for independent accountants.
If you read the 42-page first monthly progress report b
y KPMG on AHTC, you will have to conclude that Sylvia Lim is really clueless.
More than a year after the AGO Report on AHPETC was released in Feb
2015, NOTHING MUCH WAS DONE to improve the situation despite Sylvia Lim
repeating to media that they had put safeguards in place.
It takes accountants from KPMG to go in before AHTC finally co-operates and things get started.
This makes you wonder if WP see the seriousness of the financial mess
at their town council. Did they recognize that there is a mess, in the
first place? It also makes you wonder at their lackadaisical approach
in handling public monies. Where's that sense of responsibility and
accountability?
It is disclosed in the first monthly report from
KPMG that monthly closing of the accounts was NOT PERFORMED. Isn't that
shocking?
Monthly closing of accounts is required of all small
businesses to ensure that financial records are balanced before the
start of a new month.
And at the start of KPMG's commencement of their work at AHTC, there was no Finance Manager!
http://www.ahtc.sg/links/2016/04/201604-KPMG-Monthly-Report-on-Progress.pdf