The AHPETC accounts just submitted by the Workers Party are extremely dodgy. Their statement that their position for 2014/2015 and overall position is in surplus is also unverifiable.
On page 7, you can see that NO PAYMENTS have been made to sinking funds.
The MOST IMPORTANT statement is on page 3, where the auditors said that they have insufficient “appropriate audit evidence to provide a basis for an audit opinion” and therefore “do not express an opinion on the financial position of the town council”.
Why? Because on Page 2, there is a total of 1.3 million of UNVERIFIABLE numbers. UNVERIFIABLE! Including a dodgy $300,000 ‘reimbursement’ from their CCC!
EVEN THE OPENING BALANCE IS UNVERIFIABLE according to the auditors!!
I am sorry but in the beginning I was willing to give the WP the benefit of doubt that they were incompetent, but this shows that they are clearly dishonest and disingenuous!
When an auditor disclaims that they are unable to express an opinion on the financial position, it means that the accounts are not worth the paper they are printed on!!
The Workers Party are clearly trying to mislead the electorate that they are in a surplus and have turned things around, through dodgy accounting.
I am thoroughly disgusted.
Please share. This is VERY IMPORTANT.
What Singaporeans’ Say?
Liew Patrick II AHPETC – Auditor’s Report
1. The Auditors gave a disclaimer of opinion.
In other words,
“Auditors decide they cannot be impartial or independent regarding the company or organization audited.
“The auditor’s scope of coverage was substantially limited.
“The auditor has significant uncertainties regarding the appropriateness of parts or all of the financial reports.
2. There are three lapses raised by the Auditor/General’s Office (AGO) that has not been resolved.
In other words, nothing has been done about them.
3. The Auditors were not sure about accuracy of the Opening Balance.
The previous Auditor was also not sure about the Opening Balance of the previous fiscal year.
In other words, the Report was not worth the paper it was printed on. More trees were killed as a result of it.
1. AHPETC’s financial statements cannot be deemed to be accurate and reliable;
2. There is no assurance that our hard-earned monies are properly spent, accounted for, and managed.
How to run a GRC/SMC and the country?
Vote to go back from the first world to the third world again? · 36 ·Likes
Oh Tham Eng THE SAD STORY OF THE PEOPLE’S FAVOURITE WORKERS’ PARTY TURNING ITSELF INTO THE ARROGANT AND SELF-SERVING WONKY PARTY
Mr Calvin Cheng. Thank you for applying your mind to analyse for us the Financial accounts of once people’s favourite Workers’ Party turned the arrogant Wonky Party. readers who read your analysis must circulate your comments and insightful views of what is going on in Wonky party.
The leaders of the hubristic Wonky Party think Singaporeans are such idiots to be bonded into mindlessly supporting them.
But Singaporeans wanted Opposition MPs in Parliament who can be better than PAP MPs. So when PAP MPs do or say the wrong things, Opposition MPs should be doing and saying the right things. And when PAP MPs say and do the right things, Opposition MPs should be supporting PAP MPs or even doing and making better proposals. We can’t have self-serving Opposition MPs such as those feckless MPs in Wonky Party who promise one thing and do the opposite to mess up things and trying to sell out Singapore to their hugely profiteering cronies and to Mohammadans.
Sad to say, if Wonky Party is allowed to grow big and take over political power of Singapore, within one term, they are going to turn Singapore into a Banana Republic, selling out Singapore to their money-greedy cronies and to Mohammadans (such as what their treacherous MP Pritam Singh tried doing in Parliament but without success). · 11 · Likes
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