atans1

WP’s Punngol East problem/ PAP’s excuse king

In Accounting, Corporate governance on 21/09/2015 at 5:08 am

Forensic audit of AHPETC accounts

As someone who wants S’pore to move from a de facto one-party state to something more pluralistic, I was glad that Aljunied remained WP territory. But I was sad that the WP had escaped a forensic audit of the AHPETC accounts. This would have happened if PAP had won.

But I forgot the Punggol East victory.

Independent auditors may be called in to verify the accounts of Punggol East Single Member Constituency (SMC) only if facts and figures are in dispute, said its newly-elected Member of Parliament (MP) Charles Chong.

How not to dispute? For one, Auntie and Low want a fight over Charlie Chong’s alleged statement of a $1m surplus. A lot of he said, she said, TOC said: so I’ll let it be.

More importantly, while the latest set of accounts are pretty decent, as Auntie has said

AHPETC has continued to improve its financial processes and management.

AHPETC has cleared most of the disclaimers from the previous annual audits. The remaining observations relate mainly to opening balance issues for which there are still information gaps and legacy issues. There are still areas to work on. AHPETC will continue to improve its financial management.,

there will be a need for the SMC to ensure that it is getting its fair share of the APPETC’s assets (and liabilities). Given that all the accounts of the AHPETC are qualified, it is reasonable and legitimate to ask for a forensic audit of the AHPETC accounts in order to calculate the SMC’s fair share of the assets and liabilities.

Three cheers for the swing voters in PE.

Illustration of Singapore 2015 general elections by A Good Citizen

Of course, Auntie and Low could agree to be so generous to the residents of PE (thereby short-changing Aljunied and Hougang) that Charlie would keep quiet.

Zorro Lim: excuse king?

When I read this some time back, I couldn’t help laughing at Zorro’s excuse and wondering why Auntie etc hadn’t used such a similar excuse: “We screwed up, but had good intentions.”

Arrogant meh?

Grassroots leaders involved in financial irregularities were only trying to help, said the deputy chairman of the People’s Association (PA), Lim Swee Say, in Parliament on Monday.

“We can fault (grassroots volunteers) for their non-compliance of financial procedures, but please do not doubt them in their passion and commitment in always doing their best for the community,” Mr Lim said*.

(CNA)

The problem is that while Zorro can get away with “I can say with confidence there is no irregularity at the system level”, the WP can’t, given the Auditor-General’s report and its own auditor’s qualifications. https://atans1.wordpress.com/2015/08/16/pap-wp-dont-do-accouting/

———

*More: He said the root cause of these lapses were the “good intentions” of the grassroots leaders.

He went on to tell grandfather stories, by raising various examples of how grassroots leaders were “actually doing their best to serve the interests of the residents and meet the urgent needs of the community.”

… related how grassroots leaders had gone “all around Singapore” to look for face masks when the haze hit the island in 2013.

This was after a community hospital had appealed to the GROs for air purifiers for patients who were being housed in the hospital’s non-airconditioned wards.

When they found a “small store which had limited stock”, the grassroots leaders decided to purchase the masks without first calling for three tenders, which is what is required by the rules.

“… is this a case of non-compliance of financial procedures and rules? The answer is yes,” Mr Lim said. “Is this a case of grassroots leaders and volunteers compromising the interests of the community? The answer is certainly no.”

Backgrounder: PA, where the AGO had conducted test-checks on about 115 grassroots organisations (GROs) under the PA umbrella.Out of the GROs test-checked by the AGO, 30 per cent were found to have financial or accounting irregularities.

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