SGX Listing Manual Rule 1207 (10)
Opinion of the Board (with the concurrence of the AC) on adequacy of internal controls, addressing financial, operational & compliance risks (mandatory)
Code of Corporate Governance (2018)
The Board requires and discloses in the company’s annual report that it has received assurance from:
(b) the CEO and the other key management personnel who are responsible, regarding the adequacy and effectiveness of the company’s risk management and internal control systems.
We helped clients who are listed on SGX Mainboard or Catalist, to prepare or review the company’s internal control system to ensure adequacy and compliance in accordance with the Code of Corporate Governance.
Risk is something that all business face in their daily dealings and coupled with increased regulation such as data protection, compliance risk has emerged as a key subject that directors need to manage well given this litigious landscape which see hefty penalties in the event of non-compliance. We are able to help review your processes and systems to ensure that the right controls are in place and operating effectively as they should be.
Additionally, as opposed to managing risk haphazardly, having a proper Enterprise Risk Management (ERM) framework in place allows the company to have a good read into the overall risk exposure and whether any of the potential issues falls out of the tolerable threshold so that appropriate actions can be taken. We are able to assist you with the establishment and maintenance of an ERM framework tailored to your organization with the right rigour to ensure that it is always kept up to date with the emerging risks that is pertinent to your industry.
We provide the following risk consulting services:
Enterprise Risk Management (ERM)
Fraud Risk Management (FRM)
Our achievements include:
Devised and implemented the ERM and FRM framework for a large SGX main board listed company with market capitalisation in excess of S$ 100 million.
Tasked to investigate whistle blowing complaints for SGX listed companies.
Successfully detected misappropriation by an employee of our client to the tune of $150,000 over a course of 5 years during an internal audit engagement.
Conducted in-house ERM and FRM workshops for our listed clients where we highlighted misalignment between departments’ operating objectives and the company overall strategic intent. Subsequent interventions by our team contributed to clear cascading goals and appropriate risk responses that were implemented to manage the client’s overall risk exposure.
We have a team of highly qualified in-house experts:
- Certified Internal Auditor, Institute of Internal Auditors (USA)
- Certified Risk Management Assurance, Institute of Internal Auditors (USA)
- Certified Fraud Examiner, Association of Certified Fraud Examiners (USA)
- Certified Forensic Accountant, American Board of Forensic Accountants
- Registered Forensic Investigator, American Board of Forensic Accountants
- COSO Enterprise Risk Management Certificate
- Nanyang Enterprise Risk Management Programme