SINGAPORE - The elected president should be like the external auditor of a company, independent, and accountable not to management, but its external stakeholders instead.
“This is because the internal auditor reports to the top management, the CEO, and therefore it is common to see situations where the internal auditors hesitate to point out serious faults in the financial statements,” said Mr Ng, adding that this is why external auditors are sometimes required by law.
Mr Ng added that as someone who is not associated with the ruling People’s Action Party, and also has the technical and financial competence in handling the reserves, he has the essential qualities to be a president.They met the council members of SCCCI in a closed door meeting, and were also given a tour of the SCCCI Chinese Business Culture Hub which showcased the chamber’s history. Mr Ng presented a piece of calligraphy by Ms Lau to representatives from SCCCI.