Allied Tech appoints PwC as special auditor which will report to SGX RegCo
It will look into whether there was any potential breach of regulations and review the company's corporate governance and internal controls
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PRECISION engineering company Allied Tech on Friday said that it has appointed PwC as its special auditor to investigate the circumstances surrounding certain transactions, including the placing of some S$33 million of funds with law firm JLC Advisors under escrow that reportedly went missing.
PwC will also look into whether there was any potential breach of the Companies Act, Catalist rules, Securities and Futures Act and other laws and regulations, and review Allied Tech's corporate governance and internal controls and propose remediation actions and areas of improvement.
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