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Building a good governance culture

While Singaporean companies have improved their corporate governance in recent years, much more needs to be done.

"The board should take a more active role in risk management and know the best ways to mitigate the risks that might affect the company, such as cyber risk and reputation risk," says Mr Yuen

“Good governance requires clear consequence management with evidence of taking action when non-compliances occur,” says Mr Low

“Companies need to be more open about the stereotypes of people that they would bring onto their boards,” says Prof Suwardy

“There needs to be a clearer and stronger relationship between the efforts invested by management and the outcomes and benefits of effecting good governance practices,” says Mr Neo

THE onslaught of new technologies and an increasingly porous business world have made the task of building a culture of good governance a more complex one for organisations.

Companies find themselves having to frequently disrupt their business models and innovate to meet their customers'...

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