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MAS, ACRA and SGX issue revised audit committee guidebook

The Monetary Authority of Singapore said it was timely to review the guidebook following the revision to the Code of Corporate Governance in May 2012 and numerous industry developments.

SINGAPORE: A revised Guidebook for Audit Committees in Singapore covering recent changes in regulations and guidelines is now available online. 

Following the revision to the Code of Corporate Governance in May 2012 and numerous industry developments, it was timely to review the guidebook to ensure its continued relevance, the Monetary Authority of Singapore (MAS) said in a statement on Tuesday (Aug 19).

A Work Group comprising industry practitioners and stakeholders were formed in mid-2013 to review the guidebook, the MAS added.

MAS issued the revised guidebook together with the Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Exchange (SGX). The revised guidebook can be downloaded from their websites.

"As accountability and audit become an increasingly critical component to the good governance of a company, the second edition of the guidebook aims to help audit committee members better understand their roles and responsibilities," said Chairman of the Work Group, Mr Danny Teoh.

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