SINGAPORE - KPMG has started reviewing past payments made by the Workers' Party-run Aljunied-Hougang Town Council (AHTC), the audit firm said on Wednesday (June 15) in its monthly report on the town council.
The report said that KPMG has received financial information from AHTC containing 6,738,319 entries for the period from May 27, 2011 to Nov 27 last year (2015).
AHTC chairman Pritam Singh said in a statement that the town council has instructed KPMG to identify all transactions with its former managing agent companies - FM Solutions and Services and FM Solutions and Integrated Services - and flag any payment deemed improper.
"KPMG has commenced work on the past payments review and will detail their findings in a separate report to be submitted to AHTC in due course," he added.
The town council had submitted the 32-page report to the Housing Board on Wednesday (June 15), as required by the Court of Appeal.
The apex court had directed AHTC to appoint a Big Four accounting firm to establish whether any past payments it made were improper, and ensure it complies with the laws, in the wake of a report by the Auditor-General into the town council's finances.
In the latest report, KPMG also said that the town council has fixed a lapse relating to the differences in bank statements and its general ledger.
This means that three out of 17 lapses that were still outstanding when KPMG was hired by AHTC in March have been resolved.