A survey of audit committee members of public listed companies in Singapore

• Main Authors: LEONG, Kwong Sin, SUWARDY, Themin, PANG, Yang Hoong
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2008
• Subjects: Accounting
• Online Access: https://ink.library.smu.edu.sg/soa_research/1616; https://ink.library.smu.edu.sg/context/soa_research/article/2643/viewcontent/MAS.pdf
• Institution: Singapore Management University

This report summarises the results of the survey of audit committee members of public listed companies in Singapore commissionedby the Audit Committee Guidance Committee (ACGC). Funding for this project was provided by School of Accountancy, Singapore Management University. The sampling frame was locally-domiciled audit committee members of publicly listed companies in Singapore. A sample size of 711 would have been adequate to achieve a 95% confidence level, and a 3% confidence interval. The survey was sent out to 873 names and addresses provided by the Accounting and Corporate Regulatory of Singapore on 14 March2008, with a reminder on 4 April 2008. A total of 199 usable responses were received, representing an effective net response rate of 23%.The respondents represented a good cross-section of audit committee members across various industry sectors, experience and qualifications. Half of the respondents are current chairmen of their audit committees and a further 12% were previously chairmen of their audit committees. 78% of the respondents were board members with more than 4 years of experience on company boards. 70% of the respondents had been members of audit committees for at least 4 years. Half of the respondents are currently serving as the Chairman oftheir respective audit committee, and an additional 12% have previously served as an audit committee chairman.