First a quick summary and background (in blue) from the thread "Five "Fundraising" Questions for WP's Low, Lim and Singh"...
*****
Here are the facts for you:
*****
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.
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.
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.
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).
*****
To be continued...