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In line with best practices on corporate governance, an Audit Committee
comprising three non-executive MAS Board members was established in
May 2001. It comprises Mr Lim Siong Guan, Permanent Secretary (Finance)
as Chairman, Mr Chan Sek Keong, Attorney-General and Mr Khaw Boon
Wan, Permanent Secretary (Trade and Industry). The Committee will focus on
the adequacy of MAS' internal controls and audit resources, the scope and
results of the internal and external auditors' work and the integrity of the
financial reporting process.
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