AGO finds 'inadequate financial controls' in agencies including HDB, LTA
THE Auditor-General's Office Singapore (AGO) on Tuesday reported a number of "inadequate financial controls" over government operations, including those outsourced to external operators, following its annual audit.
The agencies in the spotlight include the Housing & Development Board (HDB), the Land Transport Authority (LTA), the Ministry of Foreign Affairs and the Ministry of Law.
"There were cases of inadequate controls resulting in loss of revenue to the Government," said the AGO report.
In the case of LTA, weak control over toll collection at the Woodlands and Tuas checkpoints could have led to the under-collection of S$13.9 million for the fiscal year 2014/15. That translated to about 20 per cent of all tolls collected that year.
The AGO also noted that the HDB was not detecting instances where motorists were manipulating the carpark system to evade payment.
The AGO said there was weak governance over the management of public funds in one public-sector entity where the principles of good governance and financial controls were disregarded in several areas.
Other areas of concern noted were inadequate oversight of external entities administering schemes and loans on behalf of the public-sector entities, and lapses in the management of contracts.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea government offers first compromise to end doctors' strike
Japanese AI tool predicts when recruits will quit jobs
India votes in gigantic election dominated by jobs, Hindu pride and Modi
Britain’s retail sales disappoint in sign of lacklustre recovery
Explosions in Iran, US media reports Israeli strikes
US veto sinks Palestinian UN membership bid in Security Council