Search the Community

Yesterday (19 Feb), Minister for National Development Khaw Boon Wan requested Finance Minister Tharman Shanmugaratnam to direct the Auditor-General to conduct an audit of the opposition-run Aljunied-Hougang-Punggol East Town Councils (AHPETC) financial accounts. AHPETCs auditor, Foo Kon Tan Grant Thornton LLP, had earlier submitted a disclaimer of opinion on AHPETCs FY2012-13 financial statements, raising 13 issues of concern over the town councils accounts. Earlier, on 14 February 2014, the Ministry of National Development (MND) said that the auditors disclaimer of opinion is more severe than a qualified opinion [Link]. In yesterdays statement, the PAP government said that the observations in the auditors report raise serious questions about the reliability and accuracy of AHPETCs financial and accounting systems. This is the second year that the Auditor has submitted a disclaimer of opinion on AHPETCs Financial Statements. Moreover the Auditor has raised several more issues of pressing concern this year, compared to last year. AHPETCs Auditors Report and Financial Statements cause for serious concern. As it turns out, auditors have been giving an adverse opinion on the financial reports from the Peoples Association (PA) for several years now. PA oversees all the grassroots activities in Singapore. It is a statutory board under the Ministry of Community Development, Youth and Sports (MCCY). The Chairman of PA is none other than PM Lee Hsien Loong himself. According to ACRA, there are a few types of audit opinions. A disclaimer of opinion means the auditor is unable to express an opinion on the financial statements but an adverse opinion means qualification of the financial report is not adequate to disclose the misleading or incomplete nature of the financial statements The auditor concludes that the financial statements give a true and fair view or are presented fairly, in all Opinion material respects, in accordance with the applicable financial reporting framework. Emphasis This is to highlight a matter affecting the financial o of matter statements which is included in a note to the financial (EOM) statements that more extensively discusses the matter. The addition of such an emphasis of matter paragraph does not affect the auditors opinion. Qualified This is expressed when the auditor concludes that an unqualified opinion cannot be expressed but that the Opinion* effect of any disagreement with management, or limitation on scope is not so material and pervasive as to require an adverse opinion or a disclaimer of opinion. Disclaimer It is expressed when the possible effect of a of Opinion* limitation on scope is so material and pervasive that the auditor has not been able to obtain sufficient appropriate audit evidence and accordingly is unable to express an opinion on the financial statements. It is expressed when the effect of a disagreement is Adverse Opinion* so material and pervasive to the financial statements that the auditor concludes that a qualification of the report is not adequate to disclose the misleading or incomplete nature of the financial statements. TRE has gone through PAs financial reports on its website and found the following: FY2007 (07/08) [Link] For FY2007, PA did not include the financial statements of grassroots organizations (GROs) operating under itself. The auditor could not assess the financial impact to the financial statements of the Association arising from the non-inclusion of the financial statements of the GROs. As such, the auditor gave an adverse opinion against PA because its financial statements [did] not present fairly the state of affairs of the Association: FY2008 (08/09) [Link] For FY2008, the same thing happened. The GROs financial statements were again omitted by PA. Again, the auditor gave an adverse opinion against PA because its financial statements [did] not present fairly the state of affairs of the Association: FY2009 (09/10) [Link] In FY2009, a new auditor, KPMG LLP, took over the audit of PA. The new auditor said, We do not have sufficient information to assess the financial impact to the financial statements of the Association arising from the non-inclusion of the financial statements of the GROs. As such, the new auditor also gave an adverse opinion: Then, the format for the online version of PAs financial reports for the next 3 years (FY2010 2012) changed [Link]. The public could no longer see the detailed opinions of the auditors. PA only published the financial highlights in these 3 reports. In other words, the financial reports became just financial summaries: FY2010 (10/11): http://www.calameo.com/read/000485916ba3dc3fdf3aa FY2011 (11/12): http://www.calameo.com/read/00209005895ae2db73d51 FY2012 (12/13): http://online.flipbuilder.com/nvbl/mstp/ TRE then went down to the National Library to attempt to get printed copies of PAs financial reports but the librarian was not able to find printed copies for the last 3 FYs (FY2010 2012). The library only has printed copies up to FY2009. The librarian told TRE to refer to the online versions instead. Not giving up, TRE did a further extensive online search and managed to find an online version of PAs FY2010 financial report. This copy was found on the Parliament website: FY2010 (10/11) [Link] Comparing this with the online version on PAs website [Link], they are essentially the same except that the one found on the Parliament website discloses the detailed opinion of the auditor at the end: Again, the auditor could only give an adverse opinion for PAs FY2010 financial report because the auditor [did] not have sufficient information to assess the financial impact to the financial statements of the Association arising from the non-inclusion of the financial statements of the GROs. The relationship between PA and PAP is very close. Mr Lee Kuan Yew once proudly said that the Chinese have been sending teams of officials to learn from Singapore for years: They discover that the Peoples Action Party has only a small office in Bedok. But everywhere they go, they see the PAP in the RCs (residents committees), CCCs (citizens consultative committees), and the CCs (community clubs). The operating expenditure of PA is huge. According to its latest financial report (FY2012), PAs operating expenditure for the year increased by $46 million to $483 million. Government grants which are taxpayers money given to PA amounted to $434 million in FY2012: Dr Ernest Kan, President of the Institute of Singapore Chartered Accountants (ISCA) and Pasir Ris Punggol grassroots leader, had earlier agreed with MND that the audit findings on AHPETC are serious (President of ISCA: AHPETCs audit report serious). It is not known what Dr Kan has to say about PAs audit findings which have garnered adverse opinions from auditors. It is also not known if the Acting Minister for Culture, Community and Youth (MCCY), Lawrence Wong, will request Finance Minister Tharman Shanmugaratnam to direct the Auditor-General to conduct an audit of PAs financial accounts, since PA comes under MCCY.

From ST Forum: http://www.straitstimes.com/STForum/Story/...ory_799326.html NS: PRs who don't serve will face adverse consequences Published on May 16, 2012 WE REFER to the commentary by Dr Leong Chan-Hoong ('Bridge the foreign-local gap with NS'; last Wednesday) and related letters ('Have alternative NS for new citizens, PRs' by Dr Harold Teng Siow Song, and 'No NS? Get new citizens, PRs to do community service' by Jack Lin in Forum Online; last Saturday) recently about national service (NS) for permanent residents (PRs). NS-liable PRs who fail to register or enlist for national service will be treated as national service defaulters. PRs who renounce their PR status without serving national service will also face adverse consequences. Their failure to serve national service will be taken into account when they subsequently apply to study or work in Singapore, or when they try to have their PR status reinstated. These adverse consequences will apply to the PRs, quoted by Dr Leong, who gave up their residency before being enlisted for national service. Under the Enlistment Act, male PRs are liable for national service. First-generation PRs who are able to contribute to Singapore economically immediately upon the grant of PR status are administratively exempted from national service. Second-generation PRs, who are sponsored by their parents for PR status and those granted PR status at a young age based on their potential to contribute to Singapore in the future, are required to serve national service and will be enlisted after age 18. Therefore, it is incorrect for any PR who is serving or has served national service to claim that he volunteered for it. National service is mandatory for PRs, just as it is for Singaporeans. Colonel Kenneth Liow Director, Public Affairs Mindef

Hi guys, 1. With reference to this thread at http://www.mycarforum.com/forum/Stupid_Civ...053609/#2053609. 2. It is not an offence to use hazard light during adverse weather condition. So just vote YES or NO on whether you think it should be use or not. Thank you. Regards,