Author: Mak Yuen Teen

In addition to various implementation issues, whether such an approach is likely to be effective depends on a number of other factors, the most important of which is the firm’s corporate culture.

Perhaps the Exchange needs to consider hardcoding (or defining) the meaning of “good governance” as well.

SGX needs to be watchful of companies doing “auditor shopping” to get an unmodified opinion.

The example of DLF Holdings, which has not demonstrated much corporate governance and internal controls since its Catalist listing, raises the question of accountability.

Questions must surely be asked of the sponsor and issuer manager, the reporting accountant and auditor, and of course the directors and management involved.