SingPost taps PwC as special auditor, provoking more questions

Eyebrows raised at absence of RFP and in light of PwC's long relationship with the group as its external auditor

Published Tue, Jan 19, 2016 · 09:50 PM

Singapore

NEARLY four weeks after announcing it would appoint a special auditor to investigate its corporate governance issues, Singapore Post has finally named its chosen firm: PricewaterhouseCoopers (PwC).

But questions are being asked about the decision, particularly about how it came to pass given PwC's known longstanding relationship with SingPost as its external auditor ever since the group listed on the Singapore Exchange (SGX) in 2003.

SingPost picked PwC without asking for proposals from any audit firms, its audit committee chairman Soo Nam Chow revealed in a conference call on Tuesday evening after the group announced the appointment in an SGX filing.

He also said that a separate corporate governance review was underway and SingPost expects to name an independent cons…

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