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.
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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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