Raising the disclosure bar: what next for quarterly reporting?

WHEN it comes to raising the bar on corporate governance, the best approach is a holistic one that encompasses substance over form, quick regulatory enforcement when rules are broken and placing the needs of investors at the forefront of all disclosures.

This much was made clear by Singapore Exchange's chief regulatory officer Tan Boon Gin when he delivered the closing speech at last week's Acra-SGX-SID Audit Committee Seminar when it was announced that companies which issue substandard accounts could be forced to reissue them and that errant directors could be made to face criminal charges.

These developments are welcome and well-received as they represent genuine steps forward in the constant push to improve the quality of disclosure; however, Mr Tan also touched on two items of relevance that deserve greater elaboration.