Interest in corporate governance has increased dramatically in Singapore. Hardly surprising, given the recent spate of governance failures in the likes of China Aviation Oil, Accord Customer Care Solutions, Citiraya and the National Kidney Foundation.
Corporate governance refers to the system of regulations, institutions and procedures that attempts to balance the need for managers to have enough flexibility to run their companies effectively, and their accountability to shareholders.
The hard truth is that such a system, no matter how well designed, collapses when top managers and chief executive officers fail to exercise management integrity. Integrity is widely recognised as the lynchpin that holds together any governance system.
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