Promoting better governance in Asia
Singapore leads the region when it comes to corporate governance requirements, but challenges still remain.
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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 (ACCA) and KPMG in Singapore analysed CG requirements in terms of the clarity, degree of enforceability and number and type of instruments used by the different markets.
Titled Balancing Rules and Flexibility, it ranked 25 countries globally based on these 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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