Risk management a growing challenge for audit committees

Singapore

RISK management has become a greater challenge for the audit committees (ACs) of Singapore-listed companies, but there may be a lack of consensus about the committee's role on that subject, according to a study commissioned by the Institute of Singapore Chartered Accountants (ISCA) and conducted by the National University of Singapore (NUS).

The chairmen of ACs also told researchers smaller companies face challenges in attracting quality directors to join their ACs, and that it is arbitrary to dismiss the independence of directors after nine years.