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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.

It seems that other issuers better recognise the actual and potential conflict of interest in having the external or internal auditor 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....