SINGAPORE : Local charity Youth Challenge has been found to have many irregularities and lacking in governance, management and financial controls.
The probe on Youth Challenge started in August last year after some students blew the whistle on its practices.
The COC investigation revealed the organisation lacked transparency and had been giving misleading information on the remuneration of its Executive President Vincent Lam.
The key findings - Lam's total annual remuneration of $248,867 which ended last year, was more than half of total donations and other income earned by the charity.
The COC said Lam was paid various benefits and allowances, well above civil service and charity sector norms. No system of annual performance evaluation was in place.
Youth Challenge also allowed blank cheques to be pre-signed by signatories.
Also of grave concern was the fact that Lam was able to transact electronic payments, including his salary, without a second level of approval.
Lam has resigned from his post on Monday. ............ Channelnewsasia.com
After these, who are going to trust them again?