|
 |
|
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. |
|
FrontPage Edition: Thu 25 October 2007
All rights reserved
