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National Kidney Foundation: CEO with a Golden Tap
內容大綱
In April 2004, Singapore's Straits Times alleged in an article that T.T. Durai, CEO of the National Kidney Foundation (NKF), had been drawing on public donations to pay for his generous salary, perks, and expenses. The media also discovered that Durai had installed extravagant fittings, including a gold-plated tap, in his office bathroom. Singaporeans, especially donors, were outraged at how the NKF had mismanaged donor funds. Finally, after intense public pressure, Durai and the NKF Board resigned in July 2005. Illustrates the importance of governance, transparency, and public accountability among social enterprises, and the consequences of weak internal controls over financial reporting.