atans1

Profiteering? Dodgy accounts? Forensic audit needed

In Accounting, Uncategorized on 30/08/2015 at 5:38 am

So there’s another round of “he said, she said” about AHPETC’s managing agent. T’ll not comment but remind readers yet again of the underlying very technical and very dry issue. As it’s the weekend, you might want to skip the bolded bit and read to the end. There’s a bit of “She said, he said” asfer this pix.

 

https://fbcdn-sphotos-h-a.akamaihd.net/hphotos-ak-xfp1/v/t1.0-9/11888065_973540056029404_4782647463966756683_n.jpg?oh=646ce592278df46ec48bb2eb1a135c54&oe=566D1760&__gda__=1449500905_c26ff7b9ef1a86509f1436afec4096a6

Recently, representatives from nine opposition parties and the ruling PAP were represented at a three-hour forum organised by the National University of Singapore Society.

“I think in the case of AHPETC, I think what we’ve been hearing are fairly lengthy – I don’t want to say excuses, that doesn’t sound very nice – explanations which I also don’t fully understand. If you were to ask about money then I would say in the case of the AGO audit, all the monies we’ve been talking about has been accounted for, and no money is lost. But in the case of AHPETC, I’m not too sure,”

“I wish that more answers had been forthcoming from AHPETC. Then I think we would have wasted much less time on the issue and I think the population would be much the wiser.”

Have to agree with her.

To be fair, I’ll report what WP’s Mr Gerald Giam said. He pointed out that AHPETC Chairman Sylvia Lim, as well as the elected MPs who are town councillors, “all spoke, all explained various aspects of the report” during a two-day debate in Parliament. He said that this was in addition to “numerous other press statements”, “open letters to residents” and door-to-door explanations.

“I think we have done a lot of explaining already. Just because the PAP does not want to accept our explanations does not mean we haven’t explained,” said Mr Giam. “We have explained every point that has been brought up which demands an explanation and we have spared no effort in that. And with the coming election, I’m sure this issue will be raised up by the PAP and we will respond if we need to.”

Note WP has avoided stating categorically that no public funds have been lost, and no damage suffered. It can’t because AGO has said the accounts are not fit for purpse.

Yet WP has yet to commission a forensic audit, reconstruction of accounts that will tell all. This despite saying that it accepts that the AGO is professional and independent. So it saying AGO is wrong that its accounts are not fit for purpose?

Sadly as DPM Teo has said, only a PAP victory in Aljunied will uncover the truth. Or to be more accurate, a reality that is closer to the absolute truth. Remember the PAP is always out to “fix” the Oppo.

Let the voters In Aljunied and the areas where the WP is challenging the PAP decide. I’ve already decided (somewhere here, near the bottom) what I’m going to do. And voters might want to be reminded that AHPETC does things directly (like Bishan/ TP GRC. It no longer has a managing agent.

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  1. […] The Middle Ground: Gross profiteering means what leh? – Thoughts of a Cynical Investor: Profiteering? Dodgy accounts? Forensic audit needed – Zhun Bo, Singapore?!: I Also Want to be a Town Council Managing Agent – My Singapore […]

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