HOUSING AND DEVELOPMENT BOARD (Accounting System)

Mr J.B. Jeyaretnam asked the Minister for National Development what further progress has been made by the Housing and Development Board since the 27th of July 1982 to change its accounting system following the recommendation of the Auditor-General.

Mr Teh Cheang Wan: Since July 1982, the Housing and Development Board has held discussions with a number of reputable international accounting firms and has short-listed three firms to carry out preliminary studies. The firms have recently completed their surveys. They will be submitting specific proposals shortly for the implementation of a fully integrated and computerised financial and cost accounting system for the HDB. In all these arrangements, the HDB is working in close consultation with the Auditor-General.