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Showing posts from September, 2011

SIA Board's Foreign Talent (FT) Problem-UNSW Singapore Revisited

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David Michael Gonski, an Australian, is a member of the Board of Directors, Singapore Airlines Ltd. He is also a member of the Board's Audit Committee. As Chancellor of the University of New South Wales he is responsible for UNSW's financial statements, which he signs off together with the Vice-Chancellor, Fred Hilmer. UNSW's accounts are audited by the Auditor General, State of New South Wales. His most recent audit opinion contains the following qualification: Audit Opinions The audits of the University and its controlled entities’ financial statements for the year ended 31 December 2010 resulted in unqualified Independent Auditor’s Reports for 12 entities (including the parent) and a qualified Independent Auditor’s Report for one entity. I was unable to express an opinion as to whether the University of New South Wales Foundation Trust had recorded all revenues received from donations and fundraising sources in its financial statements. This is common for entities w