Bond redemption concerns: auditor in the dark
She says she was told CHC would be beneficial owner
Add BT as a preferred source[SINGAPORE] Several City Harvest Church (CHC) members manipulated deals relating to multimillion-dollar bond transactions undertaken by the church, without the knowledge of their external auditor, evidence produced in court revealed yesterday.
The highly anticipated trial of CHC members resumed yesterday after a four-month break. CHC pastor Kong Hee, deputy senior pastor Tan Ye Peng, former board member Chew Eng Han, former board member and former finance manager Serina Wee, board member John Lam and finance manager Sharon Tan are accused of channelling the church's building funds into the music career of Kong's wife, Sun Ho, and then devising an elaborate roundtripping scheme to cover up the fraud.
The resumption of the trial saw the admission of a fresh witness: Tiang Yii of local public accounting firm Baker Tilly TFW. Ms Tiang was the audit engagement partner for CHC between January 2006 and June 2007, and that of Xtron Productions for the financial years 2006 and 2007.
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