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He has even set up a system for people to report wrongdoings.
Mr Chua Thian Poh, the property developer who took over Ren Ci's chairmanship last September, has steered the charity towards greater transparency and accountability after a probe into its books was opened.
The probe resulted in Ren Ci's former chairman and chief executive, Buddhist monk Ming Yi, being charged in court on Tuesday with 10 counts of fraud, forgery and giving false information, among other offences.
Yesterday, the Ren Ci board acknowledged the charity's 'lapses' in a statement: 'In our effort to achieve our humanitarian mission, coupled with our lack of exposure and experience in corporate governance, the signs of trouble were not picked up fast enough.
'We acknowledge the lapses. We are committed to providing the best possible service and full accountability to the public.'
In the charity's first press conference since the probe began last year, Mr Chua gave a rundown on the new measures to improve its operations.
Tighter financial controls now require, for example, cheques for $5,000 and above to be signed by two groups of people, such as board members and staff.
Previously, any two authorised board members could sign cheques.
Other measures include:
Mr Seah Moon Ming, who joined the Ren Ci board last September, is heading the new corporate governance committee, which will 'ensure proper checks and balances, that public funds are used properly', among other roles.
Ren Ci has also set up a committee to evaluate key appointment holders, such as the chief executive, to ensure that everyone is 'above board', he added.
Mr Seah, who is the president of Singapore Technologies Electronics, also disclosed that the charity was amending its constitution.
One key change is to incorporate a rule that more than half the board members should have no links with Ren Ci's parent, Foo Hai Ch'an Monastery.
About half of the current board's 18 members are independent, he noted.
Mr Tan Huay Lim, an audit partner at public accounting firm KPMG, is the other new board member roped in to turn the charity around.
He heads the charity's audit committee and said his group has implemented many of the recommendations the Health Ministry made after its recent probe into the charity.
Some of these are standard operating procedures for staff on financial matters and discouraging the use of cash cheques. If these have to be issued, they will require the approval of the chairman or vice-chairman.
Said Mr Seah: 'The checks and balances and procedures we have put in place are now almost comparable to those of public-listed companies.'
