According to SID, directors should be “aware of their duties at law, which include acting in good faith and the best interests of the company; exercising due care, skills and diligence; and avoiding conflicts of interest”.
Company directors in Singapore play a key role in upholding trust and accountability within the corporate sector. To Terence Quek, CEO of the Singapore Institute of Directors (SID), directors should go beyond compliance and be a “champion of good governance”, as outlined in the institute’s vision.
This requires not only the right knowledge and skill sets but also the mindset to lead by example. “So not just doing the right things, but I’m also looking at beyond being an advocate for good governance,” he says in an interview with The Edge Singapore on the sidelines of SID’s directors conference on Sept 12.
