Established in 1999



 

Home

Public Others Government Business Arts Community
Entertainment Lifestyle Services People Travel Internet Stuff

 

 

     FrontPage Edition: Thu 25 October 2007

Weather: Meteorological Service Singapore    High & Low Tides

Yesterday   2007   2006   2005   2004   2003   2002   2001   2000   1999

COC conducts governance review of seven large charities

Source: www.mcys.gov.sg

COMMISSIONER OF CHARITIES COMMENCES GOVERNANCE REVIEW ON LARGE CHARITIES

The Commissioner of Charities (COC) has appointed Ernst & Young Associates Pte Ltd and Deloitte & Touche Financial Advisory Services Pte Ltd to conduct the governance review of the first seven large charities under his direct purview.
These charities were selected on the basis of their high total annual income which exceeds $10 million a year.
According to the recommendation of the Inter-Ministry Committee (IMC) on the Regulation of Charities and Institutions of Public Character (IPCs), the COC should conduct governance reviews on large charities to assess and help improve their standard of corporate governance, financial control and regulatory compliance.
This is the COC’s role as part of the regulatory framework of the charity sector. To date, Sector Administrators, such as the Ministry of Health, Ministry of Education and National Council of Social Service, have already conducted the reviews of large charities and IPCs under their respective purview.
The COC’s office met up with these large charities individually, to kick-off the governance review. The charities welcome the governance review as they view this as a regular “health check” on their organisation.
This “health check” will help them identify potential areas for improvement in the areas of corporate governance, internal controls and compliance with regulatory rules.
Mr Low Puk Yeong, the Commissioner of Charities, said: "Several initiatives have been introduced to help develop the governance capability of charities and IPCs since the full-time COC office was set up in September 2006. These include the launch of a $45-million VWO-Charities Capability Fund (VCF) in April 2007, which provides funding to help enhance the governance and management capability in the charity sector. Charities and IPCs that wish to undertake their own governance review with the help of external consultants, may tap on funding from VCF."
Interested charities can visit the charity portal (www.charities.gov.sg) for more information.
For reference
Annex A lists the seven charities involved in the governance review.

Issued by:

The Office of the Commissioner of Charities

23 October 2007

Annex A

Governance Review: List of Charities

Name of Charity

Campus Crusade Asia

City Harvest Church

Faith Community Baptist Church

Kong Meng San Phor Kark See Monastery

Kwan Im Thong Hood Cho Temple

New Creation Church

Trinity Christian Centre

Source: www.mcys.gov.sg Media Release 23 Oct 2007

Important Notice

Our FrontPage Editions are a historical record of our Web site and reflect the changing of the times, and also of our Web site through time. We do not and will not update the links and stories on these FrontPages even if they have become obsolete.

 

If you have an event or some news to share with our readers, send the details, including picture(s), to us at editor@getforme.com 

We are now 14466 pages thick and growing.

Public Holidays DEEPAVALI is the next public holiday. It falls on 8 November 2007.