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Acra tells PwC to ensure independence in SingPost special audit: SIAS

THE Accounting and Corporate Regulatory Authority (Acra) has told consultancy PricewaterhouseCoopers (PwC) that it must put in place "any necessary safeguards" to ensure PwC's independence as Singapore Post's special auditor, according to a statement on Thursday from the Securities Investors Association (Singapore).

Acra will also "take the necessary regulatory action if the requirements of the Acra Code are not met", SIAS said.

In view of that, "SIAS calls on all parties concerned to allow PwC to conduct the special audit, knowing that PwC will maintain its independence in strict compliance with the Acra Code", the association added.

PwC, which was named SingPost's special auditor in January, has been the group's external auditor since SingPost's listing in 2003.