# MND's Response to AHTC's Media Release on 22 Oct 2016

- **Source:** Ministry of National Development
- **Published:** 2016-10-22T14:20:00.000Z
- **Author:** Ministry of National Development
- **Original:** https://www.mnd.gov.sg/newsroom/press-releases/view/mnds-response-to-ahtcs-media-release-on-22-oct-2016
- **Topics:** Commercial & Industrial

## Featured rationale

Unresolved accounting weaknesses could weigh on confidence in estate governance and financial management, although the article establishes no direct effect on housing transactions or prices.

## AI summary

MND said AHTC’s unaudited FY2015/16 statements contained numerous errors, inconsistencies and guideline breaches, while audited statements remained outstanding as of its response.

## Original article

We refer to the media release by Aljunied-Hougang Town Council (AHTC) on 22 October 2016 and would like to provide some clarifications. 

MND had initially rejected the auditors proposed by AHTC, after consultation with the Auditor-General’s Office (AGO). This was because the proposed engagement partner of the audit firm had failed the Practice Monitoring Programme (PMP) review conducted by the Accounting and Corporate Regulatory Authority (ACRA), and there were weaknesses in the TC’s accounting system as well as various accounting issues which had not been resolved.

AHTC subsequently appealed and assured MND and AGO that concerns about the weaknesses in the TC’s accounting system would be separately addressed through KPMG, which had been appointed by AHTC pursuant to the court order to identify and remediate weaknesses in AHTC’s accounting system. In view of the KPMG work, and on account that the PMP findings against the proposed auditor were not considered severe, MND and AGO allowed AHTC to proceed with this auditor.

While AHTC submitted its unaudited FY15/16 financial statements on time, MND found that it contained numerous errors, inconsistencies, and non-compliances with MND guidelines. These were flagged out to the TC for review with its auditor. To date, we have not received the audited statements or an indication of when they may be available. We hope that AHTC will work with its auditor expeditiously to finalise and submit its financial statements soon.

## Chinese translation

> Translation model: grok_cli

### 国家发展部就阿裕尼—后港市镇会2016年10月22日媒体声明的回应

我们就阿裕尼—后港市镇会（AHTC）于2016年10月22日发布的媒体声明作出若干澄清。

国家发展部（MND）在咨询审计长公署（AGO）后，最初拒绝了AHTC提议的审计师。原因是该审计事务所拟任的项目合伙人未能通过会计与企业管制局（ACRA）实施的执业监督计划（PMP）审查，且该市镇会的会计系统存在弱点，以及多项会计问题尚未解决。

AHTC随后提出上诉，并向MND和AGO保证，有关市镇会会计系统弱点的问题将另行通过毕马威（KPMG）处理；毕马威是AHTC依据法院命令委任、以识别并纠正AHTC会计系统弱点的机构。鉴于毕马威的工作，以及拟议审计师相关PMP审查结果被认为并不严重，MND和AGO允许AHTC继续聘用该审计师。

虽然AHTC按时提交了未经审计的2015/16财政年度财务报表，但MND发现其中存在大量错误、不一致之处，以及不符合MND指引的情况。这些问题已提请该市镇会与其审计师一并检讨。迄今为止，我们尚未收到经审计的报表，也未获知其可能何时备妥。我们希望AHTC尽快与其审计师合作，完成并提交财务报表。