SingPost saga: Untenable for PwC to stay on as special auditor
In a study of 31 firms that had appointed a special auditor since 2011, only SingPost has picked its external auditor, or its internal auditor, to undertake the special audit.
THE appointment of PricewaterhouseCoopers (PwC) to undertake the special audit of Singapore Post (SingPost) has further deepened the controversy surrounding the latter, with a number of commentators criticising the appointment of the incumbent external auditor to undertake the special audit.
The criticisms have highlighted the long-standing relationship between PwC and SingPost, with PwC having been the external auditor since SingPost's listing in 2003, the non-audit services already provided by PwC to SingPost, the possible conflict between PwC's role as external auditor and special auditor, and the failure of SingPost to go through a request for proposal in selecting the special auditor.
APPOINTMENT OF SPECIAL AUDITORS
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