This is among the improvements in three areas following the inflation of circulation figures. Read more at straitstimes.com.
SMT, which publishes The Straits Times and other newspapers, then asked its audit and risk committee to conduct an investigation. The committee found that circulation numbers were overstated in August 2021 by an average of 82,600 copies a day.Mrs Teo said SMT was working on improvements in three areas to fix underlying issues.
This includes tightening deal structure and pricing approval procedures, such as requirements for approvals at the appropriate levels; strengthening guidelines and checks for revenue and cost recognition; improving separation of duties among staff to ensure data accuracy and accountability; and commissioning external parties to review its governance, control and compliance measures, with the aim of embedding the enhancements into a new enterprise resource planning system.
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