City Harvest Church Trial: Auditor’s Knowledge And Approval Central To Case – updated as of 18 May ’13
Lai confirmed that Sim’s concerns stemmed not from his doubts about the genuineness of the Xtron bond investments, but from possible conflict of interests, given the relationship between Xtron and CHC; it appeared that Baker Tilly did not have an issue with whether the bonds were bona fide.
The use of the building fund for investments, including into Xtron and Firna bonds, was disclosed to the auditor, the board and to executive members, and no concern in relation to this had been raised.
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Credit of source: http://www.citynews.sg