Source of article: The Straits Times (print)

When the Board has been lax and tardy in exercising its oversight responsibilities for the company’s governance, this often creates opportunities for errant management conduct to surreptitiously take root and fester. This could be the genesis for a systemic failure and a corporate fiasco waiting to happen.

Every corporate failure arising from mis-management underscores the need for a vigilant and pro-active Audit Committee to put in place a robust set of internal controls and risks management measures.

The Audit Committee should also ensure that there are adequate amber lights and circuit breakers institutionalised to counter any management over-rides attempting to circumvent controls that have been put in place.

The importance of having an effective mechanism to facilitate whistle-blowing and to protect whistle blowers who can reach out directly to the Audit Committee cannot be over-emphasised.

I shared my views with the Singapore Straits Times in the attached story published on 2 Jun 2022.

My LinkedIn post is here.