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A GLOBAL PERSPECTIVE

Promoting better governance in Asia

Singapore leads the region when it comes to corporate governance requirements, but challenges still remain.
Tuesday, November 25, 2014 - 05:50
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A new finding by ACCA and KPMG titled Balancing Rules and Flexibility, ranked 25 countries globally based on key criteria, with Singapore coming in third behind the United Kingdom and the United States. It also found a wide disparity in CG requirements across the different markets it studied.
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"While the scores suggest that Singapore has performed relatively well across most of the CG pillars, there are still areas for improvement." - Leong Soo Yee, Head, ACCA Singapore
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"Given the disparity in corporate governance requirements across the markets we have studied, there is still a long journey ahead of us." - Irving Low, Head of risk consulting, KPMG Singapore
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"Corporate governance codes have a central role to play in defining acceptable practices and in directing behaviour." - Sue Almond, ACCA's Director External Affairs

SINGAPORE has come out tops in terms of corporate governance (CG) standards in the Asia-Pacific, and is in a good position to support its neighbours in this area when a single Asean market becomes a reality next year.

A joint study by the Association of Chartered Certified Accountants (