Acra tells PwC to ensure independence on SingPost

Singapore

THE Accounting and Corporate Regulatory Authority (Acra) has told consultancy PricewaterhouseCoopers (PwC) that it must put in place "any necessary safeguards" to ensure its independence as special auditor into Singapore Post's (SingPost) corporate governance issues.

This was according to a statement on Thursday from the Securities Investors Association (Singapore) or SIAS, in which SIAS president David Gerald noted there were "serious concerns" about SingPost's appointment of PwC as special auditor given PwC's long relationship with SingPost.