MAS audit committee chairman to join Accounting Standards Council

[SINGAPORE] The former deputy chairman of PricewaterhouseCoopers, who also chairs the audit committee on the Monetary Authority of Singapore's (MAS) board, has been appointed to the Accounting Standards Council (ASC) by the Second Minister for Finance Lawrence Wong.

The Ministry of Finance said in a statement on Wednesday that Mr Quek See Tiat has been appointed for a two-year term at the ASC from Nov 1. He will be the chairman-designate in the first year of his term and taking over from current chairman Kevin Kwok in the second year.

Two new members have also been appointed to the council, for terms until October 2021.

They are Mr Goh Swee Hong, partner at RSM Chio Lim, and Dr Keung Ching Tung, an associate professor at the National University of Singapore (NUS) Business School's accounting department.

The ASC is the independent accounting standard-setting body for companies, charities, cooperatives societies and societies in Singapore.

Besides the new appointments, several people were reappointed to the council.

Mr Kwok was reappointed as chairman of the ASC for a one-year term, starting next month. He has served on the council since November 2013.

Mr Cheung Pui Yuen, the council's deputy chairman, and nine other members have also been reappointed.

The nine members are: Ms Cheng Ai Phing, independent director of Fortune REIT; Mr Choo Chek Siew, former group chief financial officer of ComfortDelGro; Mr Shekaran Krishnan, partner, assurance at Ernst & Young; Mr Marcus Lam, partner, head of assurance at PricewaterhouseCoopers; Dr Ang Hak Seng, the Commissioner of Charities and executive director of the Ministry of Culture, Community and Youth Registry of Cooperative Societies and Mutual Benefits Organisations; Mr Lim Cheng Khai, executive director of the MAS' Capital Markets Intermediaries Department II; Mr Lim Zhi Yang, registrar of the Ministry of Home Affairs' Registry of Societies; Mr Ong Khiaw Hong, chief executive of the Accounting and Corporate Regulatory Authority; and Mr Ow Fook Chuen, Accountant-General at the Accountant-General's Department.

THE STRAITS TIMES