Three questions startups should ask

INTERNAL controls, compliance and risk culture are often the last things senior management and boards of startups and small to medium companies want to discuss during their strategy and operational meetings. Alternative views on these factors are seen as counterproductive to the organisa-tion's strategic objectives.

Indeed, many startups spend an inordinate amount of time focusing on the challenges of meeting the expectations of the market and of stakeholders such as investors, customers, financiers and regulators. In the process, they take on new, and sometimes unknown risks, yet are reticent to address them proactively.

There are reasons, regardless of an organisation's size and geographic reach, that discussions about integrated internal controls, compliance and risk culture need to happen up front rather than as a final step. From our experience working with startups in Singapore, we believe that there are three important questions boards and management in start-up organisations should ask themselves.