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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