WP Low, Lim, Singh, AHTC & Their Suspiciously Strenuous Objections to the "Big Four" Accountants

[PTADER]

First a quick summary and background (in blue) from the thread "Five "Fundraising" Questions for WP's Low, Lim and Singh"...

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You are entitled to your opinions but let's deal with facts. AGO initiated the audits - one by PWC and the other by KPMG. If the PWC audit reveal no wrongdoing, that should have ended. No, MND then asked for another audit, this time by KMPMG. Still nothing to nail the WP trio. But they were removed nontheless. And now this lawsuit.

Here are the facts for you:

1. TCs are assessed and scored annually as green, amber or red on the TCMR framework based on their own self-produced checklist (which must comply with the Town Councils Act and Town Councils Financial Rule) as well as observations made by their own appointed financial auditor. The TCs financial auditor audits the TCs’ financial statements and produces the audit report/auditor’s management letters.​

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2. AHPETC/AHTC (AHTC)'s appointed financial auditor (which they appointed themselves, not AGO, MND, HDB or anyone else) who did its audits was ""Foo Kon Tan Grant Thornton LLP (for FY 2011/12/13)". It later changed auditor and appointed "Business Assurance". PwC and KPMG were not involved until later.​

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3. The subsequent AGO-PwC "special audit" came about only because of AHTC's negative audit report/disclaimers by its own appointed auditor, "Foo Kon Tan Grant Thornton LLP" (FKT). AHTC had failed to submit "clean accounts" for two years (FY 2011/12 & FY 2012/13) in a row. FKT was unable to obtain from AHTC, sufficient and appropriate audit evidence to provide a basis for an audit opinion. FKT issued disclaimers in its findings. I hope I don't have to spell out for you about what disclaimers mean or their implications.​

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4. The KPMG audit came later, after the AGO-PwC audit. This was when MND/HDB applied to the courts to appoint an independent accountant from the Big Four to look into AHTC's books after lapses uncovered by AGO-PwC which, once again, came about only because of findings by AHTC's own appointed auditor, Foo Kon Tan Grant Thornton LLP (not one appointed by AGO, HDB, MND or anyone else).​

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*****​

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To be continued...​

 

[winnipegjets]

Wow, I am impressed with the PAP-style rebuttal. How big is your research team?

Let me see if I can round up a research team too. But I am opposition, so don't have the bottomless pit of money to use.

 

[rushifa666]

I thinking i will just mute this ptader idiot. Whats the point?

 

[winnipegjets]

Some facts that has not been highlighted:

1. Substantial reduction of taxpayers funded grant to WP TC, from $26.7 million under PAP TC to $7.3 million when WP TC took over;
2. WP TC put out a tender for managing agent, there was no bid from any company.

My research team very small ...so info come out slowly.

 

[Hypocrite-The]

I thinking i will just mute this ptader idiot. Whats the point?

Good idea. This chap is a trouble maker and a traitor. When the water dispute was raised, his support for the mudland side confirmed he was a mudland collaborator. Now he is a mad dog attacking WP. The way he attacks the pap should just hire him instead of the bayi. Will be soo much cheaper. So good idea to ignore a traitorous clown. I would not be surprised this traitor will call for the abolition of the death penalty as he will get his get out of jail card. Because he will be charged for treason which is a death penalty charge

 

[whoami]

Good idea. This chap is a trouble maker and a traitor. When the water dispute was raised, his support for the mudland side confirmed he was a mudland collaborator. Now he is a mad dog attacking WP. The way he attacks the pap should just hire him instead of the bayi. Will be soo much cheaper. So good idea to ignore a traitorous clown. I would not be surprised this traitor will call for the abolition of the death penalty as he will get his get out of jail card.

Are u speaking on behalf of him or urself, mr Hypocrite?

 

[Hypocrite-The]

Are u speaking on behalf of him or urself, mr Hypocrite?

Talking about assholes n scum of the earth like u Mr Whore

 

[whoami]

I thinking i will just mute this ptader idiot. Whats the point?

I find his post ok. If u find his post inaccurate, then u should rebuke with ur own facts.

 

[whoami]

Talking about assholes n scum of the earth like u Mr Whore

U nid to go check ur eyesight. My name is Whoami. Whereas ur is Mr HYPOCRITE.

 

[Hypocrite-The]

U nid to go check ur eyesight. My name is Whoami. Whereas ur is Mr HYPOCRITE.

Yes Mr Whore Ami

 

[PTADER]

*Duplicate posting*

 

[PTADER]

...Continuing from Msg 1

The AGO-PwC report was released on 06 February 2015.

In line with the PAP government's "competence" ("competence" publicly declared by Half-Truth Low, not me), MND swiftly applied in March 2015 to the High Court to appoint an "independent" accountant to safeguard taxpayers-funded grants (in millions) disbursed to AHPETC. The High Court rejected MND's application.

MND appealed and the appeal was heard in the Court of Appeal in August 2015. Amongst various objections, AHPETC strenuously objected to MND's request for the Court of Appeal to appoint an "independent" accountant. The WP triumvirate wanted that right to select and appoint the accountant for themselves. They fought very hard with HDB over which accountant was to be appointed. This fight continued into 2016.

HDB wanted one of the Big Four accountants. To anyone who is not a WP cultist, WP gongkia, deaf, dumb or blind, and who has nothing to hide, using one of the Big Four was sheer common sense, fair and reasonable. Hence, it should be welcomed with open arms. Not the WP though. The WP triumvirate continued to insist on their right to appoint their own accountant. The triumvirate's excuse was that it was too "costly" to appoint one of the Big Four. By this time (March 2015) and with this excuse, the WP triumvirate had already appointed its auditor for AHPETC, Business Assurance.

The WP trumvirate's "cost" excuse was sheer nonsense. This was since HDB had undertaken to pay any additional cost incurred by AHPETC in appointing one of the Big Four.

Question: Why was the triumvirate of Half-Truth Low, Lying Lim and Turbanless Tigress so insistent on appointing and retaining Business Assurance, a small time kuching-kurap firm with only one public accountant?

To be continued...

 

[Hypocrite-The]

...Continuing from Msg 1

The AGO-PwC report was released on 06 February 2015.

In line with the PAP government's "competence" ("competence" publicly declared by Half-Truth Low, not me), MND swiftly applied in March 2015 to the High Court to appoint an "independent" accountant to safeguard taxpayers-funded grants (in millions) disbursed to AHPETC. The High Court rejected MND's application.

MND appealed and the appeal was heard in the Court of Appeal in August 2015. Amongst various objections, AHPETC strenuously objected to MND's request for the Court of Appeal to appoint an "independent" accountant. The WP triumvirate wanted that right to select and appoint the accountant for themselves. They fought very hard with HDB over which accountant was to be appointed. This fight continued into 2016.

HDB wanted one of the Big Four accountants. To anyone who is not a WP cultist, WP gongkia, deaf, dumb or blind, and who has nothing to hide, using one of the Big Four was sheer common sense, fair and reasonable. Hence, it should be welcomed with open arms. Not the WP though. The WP triumvirate continued to insist on their right to appoint their own accountant. The triumvirate's excuse was that it was too "costly" to appoint one of the Big Four. By this time (March 2015) and with this excuse, the WP triumvirate had already appointed its auditor for AHPETC, Business Assurance.

The WP trumvirate's "cost" excuse was sheer nonsense. This was since HDB had undertaken to pay any additional cost incurred by AHPETC in appointing one of the Big Four.

Question: Why was the triumvirate of Half-Truth Low, Lying Lim and Turbanless Tigress so insistent on appointing and retaining Business Assurance, a small time kuching-kurap firm with only one public accountant?

To be continued...

The reason is any accounted nominated by the pap will screw WP ovet

 

[whoami]

Yes Mr Whore Ami

Ur eyesight indeed failing u. Is spell "whoami". Confirm u mr HYPOCRITE nid to go for eye operation. Both eyes.

Since u so proud to be known as Mr Hypocrite..watever u said cant be accepted as face value. A hypocrite worst than my enemy. A hypocrite on the outside can potray himself as friendly...but behind one's back he will backstab u.

 

[Hypocrite-The]

Ur eyesight indeed failing u. Is spell "whoami". Confirm u mr HYPOCRITE nid to go for eye operation. Both eyes.

Since u so proud to be known as Mr Hypocrite..watever u said cant be accepted as face value. A hypocrite worst than my enemy. A hypocrite on the outside can potray himself as friendly...but behind one's back he will backstab u.

Yes I know...u talking about yrself..asshole of the 1st degree

 

[steffychun]

Change your username to PAP lover.

 

[whoami]

Yes I know...u talking about yrself..asshole of the 1st degree

Ehh...every human beings have asshole. U dont have one?

But i have to respect u...take my hats off. U willing to known as The Hypocrite! Kip it up dude!

 

[JohnTan]

If the Big Four said WP's audits are unreliable, it means the WP's books are unreliable. Lock them up already! What are we still waiting for?

 

[Hypocrite-The]

Ehh...every human beings have asshole. U dont have one?

But i have to respect u...take my hats off. U willing to known as The Hypocrite! Kip it up dude!

I am a hypocrite not an asshole like u n many others

 

[PTADER]

...Continuing from Msg 1 & 12

As stated in my earlier two postings, AHPETC/AHTC (AHTC) had effectively failed its audit for two years in a row (FYs 11/12 & 12/13). These two audits were conducted by its own appointed accountant , "Foo Kon Tan Grant Thornton LLP" (FKT). Following these two failures, the triumvirate changed accountants.

With the accounts and governance of AHTC in complete shambles, the commonsensical and logical thing to do was to appoint an experienced and reputable accounting firm to replace FKT. Instead, the triumvirate appointed Business Assurance (BA). BA was a new firm then, so new that it was registered as a business only in February 2014 prior to it being appointed to be AHTC’s accountant for the FY 13/14 (and later for FY 14/15).

Besides the excuse of “lower" cost, one of the other reason the triumvirate gave to the Court of Appeal in January 2016 (when they insisted on retaining BA as their accountant) was that BA had worked with AHTC for “two annual audits” (FYs 13/14, 14/15)” and “knew its financial management issues well”.

The triumvirate's excuse could very well be applied to FKT, their previous accountant. FKT too had worked with AHTC for two annual audits (FYs 11/12, 12/13). It knew AHTC’s financial management issues well, very well in fact.


Question: Why did the triumvirate of Hopeless Low, Lying Lim and Turbanless Tigress changed accountant when FKT met the same criteria, those excuses the triumvirate gave to the Court of Appeal for wanting to retain Business Assurance?

Question: When they changed acccountant for AHTC’s FY 13/14 (and later retained for FY 14/15) audit, why did the triumvirate of Hopeless Low, Lying Lim and Turbanless Tigress select Business Assurance, a new firm which had registered only in February 2014, and which had only one public accountant? Was this because the triumvirate hoped they could “cham-siong” with a newly registered business which they thought may possibly be eager to please and go easy on them, and one which could be susceptible to "nudge-nudge-wink-wink" hints, suggestions and influence?

To be continued...