Auditors unable to fully verify AHPETC accounts for second year; MND concerned
Published on Feb 13, 2014 8:06 PM
The Ministry of National Development has expressed concern that independent auditors have been unable to fully verify Aljunied-Hougang-Punggol East Town Council's (AHPETC) accounts for the second year in a row.
In a press statement on Thursday, the ministry noted that the town council had not complied with some provisions of the Town Councils Act and the Town Councils Financial Rules, as reported by the independent auditor.
The Workers Party-run town council has not been setting aside conservancy and service charges to the bank account of a sinking fund for the maintenance of the estate, the auditor's report noted. This is mandatory under a section of the Town Councils Financial Rules.
The auditors had also not been given details of project management service fees the town council had paid to a related party. These are transactions where the town council's key management personnel have a personal financial interest.
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