More questions than answers from SingPost's reply
For SingPost to transform successfully, it needs a strong, effective board unencumbered by conflict of interest, good corporate governance, and a strong management team
I REFER to the reply from Singapore Post (SingPost) to comments by me and other stakeholders about the special audit ("SingPost clarifies matters to public", BT, Jan 30).
The board has clearly made up its mind about having PricewaterhouseCoopers (PwC) undertake the special audit, despite the reservations expressed by different stakeholders. I am naturally disappointed. I would like to respond to some of the main points made by SingPost in defence of its choice of PwC as the special auditor.
No conflict between external audit and special audit
I am surprised that the external audit did not review whether the relevant policies, processes and procedures of the company were followed in the evaluation and approval process relating to …
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