Corporate Governance and Risk Management
Governance Matters: "Managing Governance and Sustainable Value Creation in Uncertain Times"
The ISCA-SMU Breakfast Talk– Governance Matters: “Managing Governance and Sustainable Value Creation in Uncertain Times” (Live Webinar) on 1st July 2020 covered the global trends in governance and its potential implications on sustainable businesses during this challenging time.
Risk and Governance Lessons from Corporate Fiascos
ISCA’s Corporate Governance and Risk Management Committee organised a panel session to discuss red flags from recent corporate governance failures. The multidisciplinary expert panel, which comprised seasoned professionals from the audit, legal and independent directorship community, gave their take on some common red flags of corporate governance failures and engaged in a lively Q&A session with the participants.
Risk Culture: How To Get It Right
Risk culture is the foundation upon which any successful enterprise risk management programme is built. Without a good risk culture, even the best frameworks, policies and processes will not pre-empt adverse outcomes for a company. This publication shows how good risk culture facilitates business growth, and how it helps businesses to make risk aware decisions in today’s dynamic business environment.
ISCA “Journey to Success” Publication
ISCA launched its publication titled “Journey to Success” on 27 October 2017. The publication, comprising specially-curated case studies of four Singapore companies and their internationalisation success stories, was supported by IE Singapore and ISCA’s Corporate Governance and Risk Management Committee.
ISCA Comment Letter on revised Code of Corporate Governance
ISCA has provided feedback on the proposed revisions to the Code of Corporate Governance, in response to the consultation paper released by the Corporate Governance Council and the Monetary Authority of Singapore on 16 January 2018.
ISCA-KPMG Study “Driving Value: Risk Transparency and Culture”
The ISCA-KPMG study, “Driving Value: Risk Transparency and Culture” is a time-based study to observe the risk governance disclosures of over 200 Singapore-listed companies. The study analysed disclosures found in annual reports relating to board risk governance, risk management capabilities and structures, risk management practices, internal audit and fraud risk management. Interviews with independent directors and leading risks practitioners were also conducted.
ISCA-KPMG Risk Management Study: Towards Better Risk Governance (A Study of Singapore Listed Companies 2013)
Our study is a joint effort by ISCA and KPMG to gather insights on the risk management landscape in Singapore. It provides an understanding of the risk management capabilities and structures of listed companies in Singapore, as well as risk management disclosures in their annual reports. In addition, it also assesses the state of adoption of risk management practices among listed companies in accordance with the revised Code 2012 Principle 11 and SGX LR 1207(10).
Disclosures and Risk Management
The latest Singapore Governance and Transparency Index (SGTI) study, released in August 2020, showed that although Singapore-listed entities had improved overall, there are still many gaps that require urgent improvement, especially in the area of risk management disclosures. These gaps are particularly stark in light of the ongoing Covid-19 pandemic...
Good Governance in Charity
Good governance is fundamental to the success of charities. Charities are entrusted with the money that individuals, corporates, and grantmakers have donated to further their charitable cause. Charities are seen to be the guardians of public monies and people trust charities to use them to impact the lives of beneficiaries. Consequently, the public has high expectations of charities and expect them to be well governed.
Nissan in Japan, Samsung in Korea, Pioneer Industries in Hong Kong, Kingfisher Airlines in India – what do these firms have in common? Each is a poster child firm from Asia known for its corporate governance failures. That is not to say that the western world has not had its fair share of such companies: think Enron, WorldCom, Lehman Brothers, and Royal Bank of Scotland...
Don's Column: Usage of Derivatives in Foreign Exchange Risk Management and Firm Valuation
Firms with substantial foreign currency transactions expose themselves to the risk of loss in net income and cash flows arising from adverse changes in the foreign currency exchange rate. To mitigate this risk, firms often hedge their foreign currency exposure using derivative instruments such as forward contracts and currency options.
Audit Committee Study Report 2020
The 2020 Study on “The Profile of Audit Committees of Listed Companies in Singapore” is the fourth study of audit committees (ACs) of listed companies in Singapore. The first three studies were conducted in 2009, 2011 and 2015. These studies provided a baseline benchmark to calibrate the progress of ACs of listed companies in Singapore inter-temporally. This study provides information on the effectiveness and efficiency of ACs. In summary, this report provides a comprehensive and holistic view of the ACs of listed companies in Singapore as at the end of 2019. It serves as a baseline benchmark on what regulators and listed companies can further consider in improving the effectiveness of ACs.
ISCA Audit Committee Study Report 2015
The 2015 Study on “The Profile of Audit Committee of Listed Companies in Singapore” is the third study of audit committees (ACs) of listed companies in Singapore. The first two studies were conducted in 2009 and 2011, and they served as a baseline to calibrate the progress that ACs have made in Singapore. This report consists of three parts. The first part is a review of the empirical literature on ACs with a focus on the attributes of effective ACs. The second part profiles the ACs of the listed companies in Singapore in terms of their compliance to the requirements of the Companies Act, the guidelines by the Code of Corporate Governance 2012 (CG Code 2012) and the Guidebook for Audit Committees in Singapore 2014 (GAC 2014), and the Listing Rules of Singapore Exchange. The third and final part of this report is a summary of the major issues and views shared by selected chairmen of ACs collated through one-on-one interviews.
A Study on The Profile of Audit Committees of Listed Companies in Singapore
The study was undertaken with the aim of providing an understanding of the Audit Committees (ACs) of Singapore listed companies in relation to various regulations such as the Singapore Companies Act and the Code of Corporate Governance. The 2011 study is a follow-up from the 2009 study. This study examines the composition of ACs, qualification of AC members, experience of AC members and extent of ACs meeting the requirements of the Code of Corporate Governance, and puts forth some discussion and suggestions on matters pertaining to ACs.
Accounting for Good
Accounting for Good
The Institute of Singapore Chartered Accountants (ISCA) and the Centre for Social Development Asia (CSDA) at the Department of Social Work of the National University of Singapore, supported by the Charity Council and Chartered Institute of Management Accountants (CIMA), have come together to produce this book. It aims to explore the areas where accountants can volunteer their expertise to help the Charity sector in Singapore. The chapters cover the challenges and issues faced by Charities in the areas of financial accountability, risk management, full-cost accounting, and cash flow, reserves and investment management.
Download ISCA Accounting for Good e-book