Singapore

ACI Publications 

The KPMG Audit Committee Institute provides audit committee members with timely and topical information that can assist in improving the audit committee and financial reporting process.
Keep updated with the latest and international developments in Corporate Governance, with insights and sharing of leading best practices around the world. Recent publications, topical articles and relevant surveys on strengthening oversight and enhancing integrity in financial reporting are selected here.


Scaling Greater Heights in Corporate Governance (PDF, 2.5MB)
This publication provides an overview of the corporate governance issues and challenges facing Singapore business today. Among others, it looks at the evolution of the audit committee's role in the oversight of risk management and the various issues surrounding multiple directorships and directors remuneration.

Singapore Enterprise Risk Management Survey 2010

The third edition of this KPMG survey, covering 203 companies across Singapore's private sector, reveals that while the adoption of enterprise risk management is increasing in Singapore, one in two Singapore based companies is still not strategically managing their business risks.

Highlights from the 2010 KPMG Singapore Enterprise Risk Management Survey Briefing
This publication captures the essence of KPMG's executive briefing and panel discussion on the key findings from the 2010 KPMG Singapore Enterprise Risk Management Survey. Among others, it presents insights into the state of ERM implementation in Singapore and hardwiring risk management into corporate DNA.

Chinese edition of Guidebook for Audit Committee's in Singapore (PDF, 1MB)
This Chinese translated version of the Audit Committee Guidance Committee (ACGC) Guidebook, issued by the ACGC in Singapore in October 2008, seeks to address issues such as risk management, fraud, and the composition of the audit committee. It contains case studies, frequently asked questions and best practices taken from industry. The appendix to this guidebook can be found here.

Fraud: insights for audit committees – Highlights from the inaugural KPMG ACI Roundtable, 20 May 2009 (PDF, 797KB)
This publication is based on discussions from a roundtable on 20 May 2009; presenting insights into corporate fraud in Singapore and the challenges facing audit committees.

Asking tougher questions in tough times (PDF, 1.4MB)
In turbulent times, organisations face two critical issues: survivability and sustainability. This guide helps AC to ask the right tough questions that ‘push the envelope further’ and stress tests organisational resilience during challenging times.

Oversight of risk: the role of audit committees today (PDF, 2MB)
In 2009, the KPMG ACI and the SMU’s School of Accountancy embarked on this study on the state of corporate readiness and resilience. The study also looked at the effectiveness of their risk management and governance oversight practices.

The Audit Committee Journey: Recalibrating for the "New Normal" (PDF, 1.2MB)
This survey report finds that audit committees top priorities for 2009 are: financial crisis / recession risks; risk management; financial statement issues and disclosures; internal controls.

Guidebook for Audit Committee's in Singapore
This Audit Committee Guidance Committee (ACGC) Guidebook issued by the ACGC in Singapore in October 2008 seeks to provide guidance to audit committees. It contains case studies, frequently asked questions and best practices taken from industry.

Ten To-Do's for Audit Committees in 2009 (PDF, 285KB)
In 2009, with companies of every size and industry wrestling with the challenges posed by the current financial crisis, the audit committee agenda must now perhaps zero in on survival rule number one: helping their companies get through the next 18 months.

Considerations related to the current financial crisis in Singapore (PDF, 40KB)
In these uncertain times, understanding the company's risk profile and enhancing risk management processes should be a top priority. This alert looks at some of the critical risks - and questions - that ACs should consider.

Managing risk in turbulent times - Part 3: Moving ahead of the times (PDF, 101KB)
How are you managing your risks in these turbulent times? Businesses with weak risk management fundamentals often find themselves vulnerable to unexpected surprises or to a turn of events. The third and final part of this 3-part series provides some our views on how you can re-look and re-boot your risk management programme to stay ahead of the curve and move ahead of the competition.

Managing risk in turbulent times - Part 2: Staying the course (PDF, 88KB)
How are you managing your risks in these turbulent times? Businesses with weak risk management fundamentals often find themselves vulnerable to unexpected surprises or to a turn of events. The second of this 3-part series highlights key strategic areas of your business that may need more attention in this climate.

Managing risk in turbulent times - Part 1: Getting the fundamentals in place (PDF, 109KB)
How are you managing your risks in these turbulent times? Businesses with weak risk management fundamentals often find themselves vulnerable to unexpected surprises or to a turn of events. The first of this 3-part series explains why risk shouldn't be managed in 'silos' and provides a 'healthcheck' for businesses to review how risk-ready they are.

Audit Committee Alert
These alerts provide audit committees with a high-level view of key developments affecting accounting and financial reporting—and, specifically, how they may impact the audit committee’s work. It is discussed from an audit committee perspective, giving important aspects on an accounting or auditing matter, including its potential impact on the financial reporting process and the oversight of compliance, risk management, and other areas of audit committee interest or responsibility.