atans1

“Peanuts”: WP MPs’ liability

In Accounting, Corporate governance, Financial competency, Public Administration on 19/02/2019 at 1:31 pm

All this talk about Hyflux’s accounts and KPMG reminded me of another set of accounts that involved KPMG.

Aljunied-Hougang Town Council (AHTC)

is seeking to claim S$33.7 million of “improper” payments made to AHTC’s former managing agent FM Solutions and Services (FMSS) and contractor FM Solutions and Integrated Services (FMSI).

A retired WP cadre (no friend of Auntie, Low or Bayee) told that this amount is excessive. It’s all the gross payments made by WP run Aljunied town council to FMSS and FMSI without deduction for services provided. No-one, not even PAPpy running dogs (apologies to the real dogs), denies that services were provided: What the US army and WP have in common. The issue is accounting for those payments: Wankers’ Party still blur on audits and accounting and .

The lawyer for the Wankers Three said

The sum of money that AHTC seeks to claim is unreasonable, as it amounted to all payments made to FMSS and FMSI. This contradicts the previous assessment made by accounting firm KPMG, which stated that there was an alleged improper payment of slightly over S$1.5 million, with only about S$624,000 to be recovered.

The retired cadre who has read all the various audit reports (AGO/ PwC and KPMG) says that while KPMG has lots of issues about the payments made to FMSS and FMSI , it has only flagged as an improper payment an amount around $1.5m. The other payments are open to question, some more questionable than others, only considering as haraman an amount around $1.5m  : What the US army and WP have in common

Whatever, funny that the defence lawyer slammed KPMG while relying on its view of liability of the amount in question:

Defence lawyers in AHTC trial slam the way KPMG compared managing agent costs

Read more at https://www.channelnewsasia.com/news/singapore/defence-lawyers-ahtc-trial-day-4-slam-kpmg-managing-agent-costs-10812630

Low can easily pay off $1.5m: juz sell one of his condos.

 

 

 

 

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  1. Can they still be charged for that one irregularity and lose their chance to stand in the next election? Or would WP be able to extract maximum political mileage out of the trial?

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