The recent incidents of bribery and corporate fraud suggest that a company's internal policies or measures to strengthen corporate governance can go only so far.
Having external financial auditors will play a crucial role in the early detection of corporate fraud.
However, I believe that public-listed companies currently engage external auditors to conduct audit checks only once a year.
Perhaps the Corporate Governance Council should make it mandatory for public-listed companies to increase the frequency of audit checks.
Rachel Tan Wee Cho (Ms)