HOUSING AND DEVELOPMENT BOARD (Accounting System)

Mr J.B. Jeyaretnam asked the Minister for National Development whether the Housing and Development Board has taken steps to change its accounting system to implement the recommendations of the Auditor-General in his report on the HDB accounts for 1979/80 and 1980/81.

Mr Teh Cheang Wan: The HDB has decided to change its accounting system and is taking steps to implement the decision. However the HDB is operating on an enormous budget and the change in its accounting system is a complex and time-consuming task which has to be carefully planned and implemented.

Discussions have been held with a number of consultant firms on the various problems involved in the setting up of a new accounting system based on the Auditor-General's recommendations. The HDB will soon appoint one firm to provide assistance in developing the new system.