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SINGAPORE: The Audit Committee Guidance Committee has been set up to develop practical guidance for audit committees.
It will help to strengthen corporate governance practices of listed companies in Singapore, focusing on the practical aspects and considerations of the work of audit committees.
These include the implications of the requirements of the Companies Act and the principles and guidelines of the Code of Corporate Governance.
The panel will also identify and describe best practices of effective audit committees.
The committee was set up by the Monetary Authority of Singapore, the Accounting and Corporate Regulatory Authority and the Singapore Exchange.
It will be chaired by Bobby Chin Yoke Choong, with members drawn from the business community as well as stakeholder groups.
These will include the Institute of Certified Public Accountants of Singapore, the Law Society of Singapore, the Singapore Association of the Institute of Chartered Secretaries and Administrators, and the Singapore Institute of Directors.
- CNA/so
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