Forensic accountant RSM finds ’round-tripping’ of IPTs in Trek 2000 books

SINGAPORE (Sept 8): Forensic accountant RSM Corporate Advisory has identified several “round-tripping” interested party transactions (IPTs) involving Trek 2000 International and its subsidiaries.

Among the questionable transactions, RSM says certain products sold by subsidiaries of Trek 2000 to T-Data and S-Com HK between FY2008 to FY2016 were then sold back to other subsidiaries of the company at a markup for certain value-added services.

According to RSM, the transactions with T-Data and S-Com HK caused group sales to be overstated by a total of US$1.85 million ($2.5 million) from FY2008 to FY2014 except FY2009.

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