TRANSPORT & LOGISTICS | Staff Reporter, Singapore

SingPost enlists PwC as special auditor in corporate governance probe

The investigation would focus on a SingPost director.

The Postman is determined to exhibit that it has nothing to hide as it taps PricewaterhouseCoopers (PwC) to perform a special audit on its constitution, procedures and policies.

According to a press release by Singapore Post, PwC was selected as the company seeked to identify an established audit firm.

“The company is satisfied that the Special Auditor has performed its own internal procedures to determine that no conflict of interest exists that would impair its ability to discharge its professional responsibilities in relation to the work to be carried out by the Special Auditor,” SingPost said.

Additionally, SingPost said no partner or auditor of the Special Auditor who has performed an audit or acted as consultant to the company shall be involved in the investigation as an added measure.

“As an indicative timeline, the Special Audit is expected to be completed in approximately one (1) month, following which the Company will announce a summary of the Special Auditor's findings. The Board is committed to taking on board the recommendations of the Special Auditor arising out of the Special Audit,” the statement said.

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