Corporate Governance

AUDIT COMMITTEE

The Audit Committee is a Constitutional appointment by the Management Committee. The Audit Committee, whose members are appointed for a term of 3 years and its primary function is to assist the Management Committee in fulfilling the oversight and fiduciary responsibilities to act in the interest of SIAS’ members and stakeholders as a whole, in particular, in the areas of financial accountability and reporting.

The Committee oversees and appraises the nature and extent of the audit process carried out by the external auditors. It also reviews the findings of the external auditors relating to their assessment of the adequacy and effectiveness of the significant internal controls, including operational and financial controls and compliance controls, and risk management processes and evaluated adherence to established policies, processes and practices. It also reviews the actions proposed to be taken by the management to address the findings of the auditors.

The Committee also undertakes the review of the financial statements with the external auditors and recommended to the Board for approval.

Members:

Chairman
Mr Ang Hao Yao, CFA
(Chairman, Sata)

Members
Mr Ravi Manchanda
(Senior Banker, Corporate and Institutional Banking (Asia), Westpac Banking Corp)

Mr Th’ng Beng Hooi, CFA
(Managing Director, A.B. Maximus)

REMUNERATION COMMITTEE

The Remuneration Committee is a Constitutional appointment by the Management Committee. The Remuneration Committee exercises oversight of the remuneration policies in SIAS. It ensures that SIAS has appropriate remuneration policies and decides on the remuneration of its senior executives, which includes performance incentive plans and other compensation and benefits. The committee ensures salary competitiveness, reviews the basis and quantum for the performance bonus payment and annual salary increase; and the manpower requirements of the Association.

Members:

Chairman
Mr Loh Uantchern
(Chief Executive Officer, SAC, and Hon. Secretary, SIAS)

Members
Mr Andrew Cheng
(Group Chief Executive Officer, Kingsmen Creatives Ltd)

Mr Robin Chin, CPA
(SIAS Committee Member and Partner, Foo Kon Tan LLP)

Mr Robson Lee
(Partner, Gibson, Dunn & Crutcher LLP and Asst. Hon. Secretary, SIAS)

Mr Ravi Manchanda
(Senior Banker, Corporate and Institutional Banking (Asia), Westpac Banking Corp)

NOMINATION COMMITTEE

The Nomination Committee is a Constitutional appointment by the Management Committee. The objective of the Nomination Committee is to lead the process of selection of the most suitable candidate or candidates for appointment to the Management Committee and to make recommendation to the Management Committee. The members are appointed for a term of 3 years.

The Nomination Committee reviews the applications from members intending to stand for the Management Committee, at least 21 days from the Annual General Meeting, and submitted to the Nomination Committee for approval within 7 days of submission. Once the Nomination Committee has approved the nomination, then election will follow at the Annual General Meeting on a simple majority.

The Nomination Committee shall ensure that the candidate is of good standing, is free from any criminal record and is not an undischarged bankrupt. The candidate should not have been removed from any Committee or Members of an Organisation for poor performance, neglect or unruly conduct.

Members:

Chairman
Mr Ng Siew Quan
(Partner, PWC)

Members
Mr Robert Yeo
(Executive Director & CEO, STADA)

Mr Vincent Chen
(Private Investor)

 
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