11/08/2014

Integrity, Transparency and Accountability in NTU Governance



Reflections on Purported Forensic Investigations by the major public accounting firm Ernst&Young into possible financial improprieties and misconduct at the highest levels of the Nanyang Technological University (NTU).

Good Governance is not natural or automatic. The promotion and maintenance of good governance is not easy.  Powerful financial forces act to corrupt power and trust to erode and succumb feeble-minds to the temptation of greed and corruption.  An unspoken “social contract” exists between public officials and the Singapore people whereby we “The People” can expect public institutions to put the interests of the many over those of a few, including themselves, as they exercise wise judgment in decision-making in accordance with the inherent principle of Trusteeship when advancing the economic, social and moral needs of an ethical and caring society.

Whither therefore the truth and nature of purported forensic investigations by the major public accounting firm Ernst&Young into possible financial improprieties and misconduct at the highest levels of the Nanyang Technological University (NTU)? Would the Report, if available, be made public like the one concerning the National Kidney Foundation some years ago? 

Of greater importance and public interest is whether public integrity watchdogs and enforcement agencies like the Commercial Affairs Department (CAD) and Corrupt Practices Investigations Bureau (CPIB) would follow up on the Report, if any, to evaluate whether any laws were breached and whether anyone should be charged for corruption or other heinous breach-of-trust offences, or they had abused their entrusted power for private profit.

If the purported Ernst&Young Report indeed revealed breaches of laws, it would not be surprising.  On several occasions, it had been mysteriously bizarre as to why NTU Senior Management chose to ignore relevant legal boundaries with such impunity even after these have been pointed out them. {Read More}

Would the purported Ernst&Young Report on NTU uncover other instances of corporate misconduct or breaches of established corporate governance rules?  Hopefully, no.  I shudder to think of the shameful publicity and ramifications that would result from such scandals on the fine reputation of NTU.

We must guard the integrity of public institutions jealously. Corruption takes over when we allow our national institutions to be subverted by unprincipled public officials or public employees determined to abuse their power, position and prestige for personal profit and gain. 

Kopi Level - Green
  
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4 comments:

  1. Name and shame the management. Deliberately getting rid of local staff and replacing them with foreign staff ust to boost ranking ? What the fook ! No wonder so many local PMETs are unemployed !

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  2. Another corruption scandal to round up the year to usher in our 50th Birthday!
    Headline: Top Asian University in Real Scandal.
    Who's in charge of NTU, again?

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  3. Whether NTU has good corporate governance or not, or corrupt or not, is beside the point.

    The point is whether the Sinkie opposition is even ready to be govt, let alone be a better govt to ensure good corporate governance and prevent corruption.

    If not, will majority (aka 60%) Sinkies ready to vote PAP out next GE, u tell me lah?


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  4. Maybe PAP now can tolerate a little corruption among govt employees in univ and civil service.
    High salaries are never enough.
    U attracted people by money, they will be tempted by money - it is the natural law.
    Men-in-White must now change uniform colour to Grey. Become MIG now.
    Opposition are no better - if MP pay is not so high, will the opposition still be interested?



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