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 by 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
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