Cross Border, 5 Mar 2009
More than half the companies listed in Singapore lack the recommended level of financial expertise on their audit committees, according to a new study by the city-state’s national accountancy body.
Singapore’s corporate governance code recommends that companies should have at least two members on their audit committees with accounting or related financial management expertise. However, just 46 percent of companies meet this standard, according to a review by the Institute of Certified Public Accountants in Singapore (ICPAS).
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