Accounting watchdog probes SingPost’s corporate governance blunder

There are possible breaches of the Companies Act.

The Accounting and Corporate Regulatory Authority (ACRA) is investigating whether Singapore Post has breached the Companies Act.

In a statement to the SGX on Thursday, the Postman said that it has been required to submit a copy of the Joint Special Audit report to ACRA. The special audit was conducted by Drew & Napier and PwC.

“ACRA has on 18 May 2016 required Singapore Post to furnish to ACRA the Joint Special Audit Report dated 3 May 2016 as it is commencing investigations into possible breaches of the Companies Act as highlighted in the Report,” SingPost said.

Only a summary of the report has been provided to the public.

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