HDB raises concerns about AHTC's choice of accountant....
The town council wants to appoint Business Assurance - a sole proprietorship founded in 2014 - as its accountant. However HDB has raised questions about the expertise and experience of WP's choice.
HDB's lawyer said Business Assurance lacks relevant expertise and experience and does not even have a two-year operational track record. There is also no indication it has experience auditing public institutions that include town councils, and the firm lacks adequate manpower resources for the task at hand, the housing board added.
HDB suggests that one of Singapore's four major accounting firms be appointed instead to fix accounting and governance lapses at the Workers' Party-run town council.
The court ordered an adjournment and directed AHTC to file an affidavit to respond to HDB's queries because AHTC had not responded to a written request sent by HDB earlier this week seeking further information on the town council's proposed accounting agent Business Assurance.
AHTC has until Monday to address HDB's queries on Business Assurance.
MND and HDB also said that AHTC "tried unsucessfully to limit the accountants' terms of reference" and that the Court of Appeal dismissed the town council's attempt to seek legal costs and disbursements from MND and HDB for the hearings before the High Court and the appeals court. Instead, the apex court agreed with HDB and MND's submission that each of the parties should bear their own legal costs.
The town council wants to appoint Business Assurance - a sole proprietorship founded in 2014 - as its accountant. However HDB has raised questions about the expertise and experience of WP's choice.
HDB's lawyer said Business Assurance lacks relevant expertise and experience and does not even have a two-year operational track record. There is also no indication it has experience auditing public institutions that include town councils, and the firm lacks adequate manpower resources for the task at hand, the housing board added.
HDB suggests that one of Singapore's four major accounting firms be appointed instead to fix accounting and governance lapses at the Workers' Party-run town council.
The court ordered an adjournment and directed AHTC to file an affidavit to respond to HDB's queries because AHTC had not responded to a written request sent by HDB earlier this week seeking further information on the town council's proposed accounting agent Business Assurance.
AHTC has until Monday to address HDB's queries on Business Assurance.
MND and HDB also said that AHTC "tried unsucessfully to limit the accountants' terms of reference" and that the Court of Appeal dismissed the town council's attempt to seek legal costs and disbursements from MND and HDB for the hearings before the High Court and the appeals court. Instead, the apex court agreed with HDB and MND's submission that each of the parties should bear their own legal costs.
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