Sunday, March 22, 2015

How does independent accountant safeguard spending of public monies?

I read with interest on the Singapore Government’s unprecedented move in seeking to appoint independent accountants to safeguard its grants to AHPETC. My question is simple. If AGO's audit is insufficient in guaranteeing that the monies are well spent, why is this move only specific to AHPETC.

What's the assurance that the other town councils are also spending the monies wisely? Has MND forgotten about the investment of the sinking funds in Lehman Brothers? Is this investment wise? Aren't those monies public funds? Why wasn't there an independent auditor appointed for that case?

Instead of appointing independent auditors to audit AHPETC again, I feel that MND  should take the chance now to have a overall framework in place to govern all the town councils to prevent misuse of grants for all, not only specific to AHPETC. I don't see the point of consistently trying to audit AHPETC and diverting their attention away from the normal work done by town councils.

With all the talk about over payment, MND should instead take over the calling of the procurement for the town council system instead of letting individual town councils call their own, especially when the town council system is owned by someone closely affiliated with a political party. You don't see Oracle using SAP software if their own software can do the same functions right?

Seriously, in the real world, no one uses a competitor's product for their core business and I don't see why this is called overpayment when the other party didn't even submit a bid.

This year is obviously an election year because the government has spent their surplus accumulated over the term. No leader will take the risk of spending all the surplus in a period of slow growth.

If the auditors are appointed, the results would most probably come out around Sep, which is right about when an election may be called soon, looking at the busy calendar in Singapore and around the world. This court order is not depoliticalising the issue. My take that this is further politicalising the issue.

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