Singapore Charity Probe
Health Minister Khaw Boon Wan spoke at a news conference on Wednesday in response to an independent KPMG report released on 19 December.
Read the statement here.
Watch the video here.
Highlights of his speech:
• Government will not comment as investigations are still on-going
• New NKF board will stay on to complete transformation
• Government regulators did follow up on complaints of NKF through the years
• NKF tangible results on patients and healthy reserves were misleading
• Old NKF's proclamation of strong corporate governance was a facade
• Mishandling of contracts and conflicts of interest let down donating public
• NKF was audited over the years but weaknesses went unnoticed
• Even KPMG audit of tax deductible review in 2004 did not uncover flaws
• Government will work with new NKF to prevent any such future recurrence
• Health Ministry will look at more checks and balances with the new NKF
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