High Standards of corporate governance play an important role in upholding Singapore’s reputation as a well-established and secure business and financial hub. In keeping with this, as well as developments in the business and financial environment, the regulatory landscape in Singapore witnessed several key changes in 2012. These include changes to the Singapore Exchange (SGX) Listing Rules and the revised Code of Corporate Governance (the Code). The Companies Act (the Act) was also reviewed, with amendments to the Act expected to be implemented this year.
As we start the year, it is opportune to take an overall look at what the key trends in corporate governance were in 2012 and their potential implications for our accountants in business and for auditors.