Author Biography

10595867 - 26_11_2008 - mak yuen teenMak Yuen Teen is Associate Professor of Accounting at the NUS Business School. He founded the Corporate Governance and Financial Reporting Centre (CGFRC) at the NUS Business School, National University of Singapore in January 2003, and retired as director of
the centre in December 2009. He was Vice Dean (Finance and Administration) at the school
from 2002 to 2004.

Professor Mak holds First Class Honours, Masters and PhD degrees in accounting and finance, and is a fellow of CPA Australia. From 2007 to 2009, he was on leave from NUS and held the position of regional research director (Asia-Pacific) at Watson Wyatt Worldwide (now Towers Watson), a global consulting firm in areas such as human resource management and executive compensation. He has also held the position of Head of Research at KPMG Singapore.

Professor Mak was a member of the Corporate Governance Committee which released Singapore’s first Code of Corporate Governance for listed companies and a member of the Council on Corporate Disclosure and Governance (CCDG) from 2002-2005 which revised the Code. He was a member of the Charity Council in Singapore from its establishment in October 2006 until his retirement in 2013. During his term, he chaired the subcommittees which developed and revised the code of governance for charities. Professor Mak is a core member of the OECD Asian Corporate Governance Roundtable.

Professor Mak was a member of the audit advisory committee of the United Nations Population Fund based in New York from its establishment in October 2006 and retired in 2013 after serving the maximum term. He is currently serving a second term as a member of the audit advisory committee of UN Women. He was also an honorary advisor for BoardAgender, an organisation under the Singapore Council of Women Organisations in Singapore set up to promote gender diversity on boards and senior management, during its establishment phase. He has chaired a large healthcare charity and has served on boards of other not-for-profit organisations.

Professor Mak teaches corporate governance and ethics at NUS and conducts training for regulators, directors and other professsionals in corporate governance. He has consulted for local and international companies, regulators, and international intergovernmental organisations. He speaks regularly in conferences in Singapore and in the region, and is a regular commentator on corporate governance issues in the local and regional media.

Professor Mak developed the Governance and Transparency Index (GTI) covering all listed companies in Singapore, which is published by the Business Times, sponsored by CPA Australia and supported by the Investment Management Association of Singapore. He was the Singapore expert in the development of the ASEAN Corporate Governance Scorecard and Ranking project, an initiative of the ASEAN regulators to raise corporate governance standards amongst large ASEAN companies, and was involved in the ranking exercises for the first two years. He is the advisor of the Governance Evaluation for Mid and Small Caps (GEMS), and was instrumental in developing this totally new approach to rating the corporate governance of small to medium-sized listed companies which is more reflective of critical governance considerations for such companies. He was chair of the Singapore Corporate Governance Awards from 2003 to 2009 and has chaired the Investor Relations Award under the Singapore Corporate Awards since its inception until 2014.

His report on improving the implementation of corporate governance practices in Singapore, commissioned by the Monetary Authority of Singapore and Singapore Exchange, was published in June 2007 and several of his recommendations have been implemented. His book “From Conformance to Performance: Best Corporate Governance Practices for Asian companies” was published by McGraw-Hill in 2005. In 2012, he published a primer on governance for social enterprises commissioned by the Social Enterprise Association in 2012, and a guide for nominating committees of listed companies. Each year, he edits a collection of Asian and international corporate governance case studies published and sponsored by CPA Australia. He led a research project on board diversity in Asia Pacific, commissioned by Korn/Ferry International. He was the consultant for a project commissioned by the Diversity Task Force (established by the Ministry of Social and Family Development in Singapore) which led to a number of recommendations on improving gender diversity on boards of Singapore listed companies, which are now being implemented by the Diversity Action Committee.

He has also published papers on corporate governance and accounting in academic journals such as the Journal of Corporate Finance and Journal of Accounting and Public Policy, as well as practice-oriented journals.

In 2014, the received the Corporate Governance Excellence Award from the Securities Investors Association (Singapore) for his contributions to improving corporate governance in Singapore. In 2015, he received the Recognition Award from the Minority Shareholders Watchdog Group as part of their Malaysian Corporate Governance Index-ASEAN CG Scorecard Awards for his contributions to raising corporate governance standards in the region.