The Institute of Singapore Chartered Accountants launched its new "Do Good" initiative for corporate governance among Trade Associations and Chambers (TACs) and charity boards.
The new project seeks to support the boards and councils of more than 2,000 registered charities and 300 TACs, with potential cost-savings of S$15 million.
Under the initiative, ISCA and SAC Capital will subsidise 50% of the Board of Directors Masterclass programme for TACs and charity boards to enhance their corporate governance.
The "Do Good" board package represents ISCA's unwavering dedication to promoting ethical leadership, transparency, and accountability within Singapore's non-profit sector, according to a press release.
The project will also help TACs and Charity Boards to avoid potential pitfalls in corporate governance, such as conflicts of interest, inadequate financial management, and weak internal controls.
Teo Ser Luck, ISCA president said the initiative reinforces their commitment to enhance corporate governance standards among TACs and charities.
"We hope that our subsidies on the BOD Masterclass Programme will go a long way in empowering more boards with essential skills to not only thrive, but to also serve their communities responsibly," Teo said.
