SINGAPORE - The Aljunied-Hougang Town Council (AHTC) has almost completed its review of past Goods and Services Tax (GST) returns, its independent auditor KPMG said on Wednesday (March 15).
In its latest monthly progress report on the town council run by the Workers' Party (WP), KPMG also said the process of clearing AHTC's temporary accounts is about 70 per cent complete.
However, no outstanding financial and governance problems flagged in past audits were resolved in February.
Since the first report issued in April last year, AHTC has resolved eight out of 17 audit points flagged in past audits with the help of KPMG, which it appointed to look into its books after the Auditor-General's Office found significant governance lapses in a special audit.
Another three audit points have measures in place that still have to be tested, while the remaining six have to be further reviewed by KPMG.
KPMG also provided updates on several other matters.
AHTC is still in the process of moving its records into a new $750,000 accounting system that was adopted in January, it noted.
The audit firm said it has yet to review a business continuity management policy and a business continuity plan approved by AHTC's chairman and vice-chairman on Wednesday.
A tender for a two-year internal audit services contract closed early this month, but the town council did not receive any bids. AHTC is evaluating its next steps, KPMG said.