AHPETC audit: Auditor-General to audit AHPETC’s FY2012-13 accounts

SINGAPORE — The Auditor General will conduct an audit of the of the Aljunied-Hougang-Punggol East Town Council (AHPETC)’s FY2012-13 accounts, announced the Ministry of Finance today (Feb 19). Below is the statement in full:

The Minister for Finance, at the request of the Minister for National Development, has directed the Auditor-General to conduct an audit of the Aljunied-Hougang-Punggol East Town Council (AHPETC)’s FY2012-13 accounts.

The AHPETC’s Auditor, M/s Foo Kon Tan Grant Thornton LLP, has earlier submitted a disclaimer of opinion on AHPETC’s FY2012-13 Financial Statements, raising 13 issues of concern over the Town Council’s accounts. The Auditor also issued a qualified opinion on AHPETC’s other legal and regulatory requirements, stating that AHPETC has not complied with the provisions of the Town Councils Act and Financial Rules in various respects.

As stewards of public funds, all Town Councils must keep proper accounts and records, and ensure adequate control over their assets. The observations in the Auditor’s Report raise serious questions about the reliability and accuracy of AHPETC’s financial and accounting systems.

This is the second year that the Auditor has submitted a disclaimer of opinion on AHPETC’s Financial Statements. Moreover the Auditor has raised several more issues of pressing concern this year, compared to last year.

AHPETC’s Auditor’s Report and Financial Statements are cause for serious concern. At the request of the Minister for National Development, the Minister for Finance has exercised his power under section 4(4) of the Audit Act, to direct the Auditor-General to conduct an audit of AHPETC’s FY2012-13 accounts.