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Fostering a culture of transparency

Good corporate governance standards alone are not enough to prevent financial scandals. Stakeholders must also actively get involved.

Debating that fine balance between corporate governance rules and flexibility at a panel discussion are (from left) ACCA's Asia-Pacific head for policy and panel moderator Chiew Chun Wee, MAS executive director of the market conduct department Paul Yuen, Stamford Law Corporation director Elizabeth Kong, NUS associate professor Lawrence Loh and KPMG head of risk consulting Irving Low.

CORPORATE governance rules and standards by themselves are not able to prevent crises of the kind that occurred during the great financial crisis of 2008, but require stakeholders to ensure that company boards comply with them.

This was one of the hot-button topics at a panel discussion...