Accounting body wants more transparency
the institute of certified public accountants of singapore, icpas, wanted stricter guidelines for charities. uh, is this the real problem? all sizable organisations, including nkf are audited by internal or external auditors. and quite often it is the auditing that is at fault. then what happens to the auditors? nothing. absolutely nothing. what is really needed is accountability. anyone who is tasked to do a job as a professional must be held responsible if he fails to do a decent job. negligence is no excuse. the directors, the management, the auditors, are all accountable and must be brought to task. there is no point in having stricter rules and more rules if there is no will to enforce it, to execute it and to take wrong doers to task. lets start with the directors, management and of course, the auditors. the auditors are paid to audit and report any shortcomings. if they did not do a good job, they shall not be allowed to walk away quietly.