As a not-for-profit organisation under the purview of the Charities Act, Â鶹ÊÓƵ¹ÙÍø enforces stringent corporate governance guidelines to ensure that we are transparent and are compliant with legal regulatory requirements.
Â鶹ÊÓƵ¹ÙÍø adopts an enterprise-wide, systematic and integrated approach to risk management in identifying key risks and ensuring appropriate risk mitigation measures are in place, reviewed and monitored.
Assuming the overall governance of Â鶹ÊÓƵ¹ÙÍø is the Board of Directors. Comprising independent elected members, the Board is responsible for the strategic direction of Â鶹ÊÓƵ¹ÙÍø, provides governance oversight on all financial, remuneration, risk and audit matters, and closely monitors compliance with control measures.
The Internal Audit Division, as part of Â鶹ÊÓƵ¹ÙÍø's corporate governance framework, supports the Board to oversee Â鶹ÊÓƵ¹ÙÍø’s functions in whistle-blowing, internal and external audits.
As part of good corporate governance, Â鶹ÊÓƵ¹ÙÍø has in place the Whistle-Blowing Policy and Conflict of Interest best practices. Under the latter, Board members or staff who have personal interests in business transactions or contracts that Â鶹ÊÓƵ¹ÙÍø may enter into or have vested interest in any organisation that Â鶹ÊÓƵ¹ÙÍø has dealings with, are required to declare such conflicts of interest to the Board or senior management immediately, and to abstain from any discussion or decision making on the matter of interest.
The Â鶹ÊÓƵ¹ÙÍø Whistleblowing Policy, which has the full support and commitment of the Board, Audit & Risk Committee and the Â鶹ÊÓƵ¹ÙÍø senior management, has been put in place with this objective. The Whistleblowing Policy extends the notion of corporate governance to all customers, suppliers, employees and other stakeholders, allowing them to take responsibility in playing their part to help Â鶹ÊÓƵ¹ÙÍø achieve a greater level of public confidence in our corporate governance.
Â鶹ÊÓƵ¹ÙÍø takes whistle blowing very seriously. Â鶹ÊÓƵ¹ÙÍø has set up various reporting channels for its customers, suppliers, employees and other stakeholders to report, in good faith, details of any instances of illegal or unethical misconduct. The identity of the whistleblower and the information provided will be protected but may, under certain circumstances (e.g. where it is legally required among other reasons), be disclosed on a need-to-know basis to relevant parties.
Â鶹ÊÓƵ¹ÙÍø does not condone any acts of reprisal against a whistleblower. Any alleged acts of reprisal will be investigated promptly and action taken against any person found to have committed such acts.
Â鶹ÊÓƵ¹ÙÍø has appointed CLA Global TS, an external Whistleblower service provider, as our independent platform for Whistleblowing concerns to be raised.
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Â鶹ÊÓƵ¹ÙÍø Reserve Policy
The purpose of Â鶹ÊÓƵ¹ÙÍø’s reserves is to maintain the long-term financial stability of Â鶹ÊÓƵ¹ÙÍø and meet our purpose to do social good. Â鶹ÊÓƵ¹ÙÍø will target to maintain a reserve level of at least one year taking into consideration its future income streams, operating and capital expenditure.
