SHOCKED

I AM DISAPPOINTED.........

As a future/maybe/wannbe ACCOUNTANT or AUDITOR......I AM SO SHOCKED THAT NKF HAS ONCE AGAIN HIT THE NEWS.....

What went wrong?

Why the internal audit not doing its job.....simply because NKF is a public, charitable organisation?

I guess the problem lies in the hubris of many.....the pride, the arrogance, the ego of the top management of NKF.....

On the surface, they believe that they are doing GOOD....Providing SUBSIDISED KIDNEY DIALYSIS PROGRAMME....Hence there might be a lag in a internal check and balance system to safe-guard the resources of NKF......

There is no doubt that the NKF fiasco is a wake-up call for the regulators in Singapore. Does it mean that as long as the organisation is not regulated under the Company Act, it can be havoc with its accounts?

This brings us to the reason for the accountability issue at hand.

What to account and to who?

Obviously the answer is CLEAR.....

Yet a moral dilemma exists.......and I can image the anxiety of the under-privileged people who required kidney dialysis at NKF....with the emergence of even more potential damaging news.....their hearts, too, go on a roller-coaster ride.....

For me, I will certainly press the 1900-112-6868 if ever it comes up again........