Accounting bodies favour tightening of rules in revised Corporate Governance Code

SINGAPORE : Two professional accountancy bodies, representing both internal and external auditors, have provided their feedback on the proposed revisions to the Singapore Corporate Governance Code.

Both the Institute of Internal Auditors and the Institute of Certified Public Accountants have come out in favour of a tightening of rules, particularly with regard to management accountability.

This comes at a time when a number of listed firms have been seriously damaged by corporate fraud due to poor accounting controls.

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