MAS: Annual report 2006 / 2007
CONTENTS
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INTEGRITY
Chairman's Message
Board of Directors
Board Committees
Management Team
The MAS Act provides that the Board of Directors shall be responsible for the policy and general administration of the affairs and business of MAS. The Board is assisted by the following committees:

Chairman’s Meeting
The Chairman’s Meeting makes decisions on major changes to the regulatory framework and supervisory policies. The meeting also approves major changes to policies and strategies relating to financial centre development, as well as international and regional relations.

Monetary and Investment Policy Meeting
The Monetary and Investment Policy Meeting deliberates and decides on issues relating to the formulation and implementation of monetary policy with the objective of maintaining price stability for sustainable economic growth. The Meeting also oversees the investment of MAS’ reserves.

Audit Committee
The Audit Committee provides an independent assessment of MAS’ internal controls and financial reporting process. The Committee also reviews the efforts of MAS’ internal and external auditors.

The Audit Committee comprises Teo Ming Kian (Chairman), Chao Hick Tin and Lucien Wong.

Risk Committee
The Risk Committee provides oversight and guidance on the management of risks faced by MAS. The Committee oversees the MAS-wide risk management framework, and reviews MAS’ risk management policies and processes for the reporting of risks.

The Risk Committee comprises Lim Chee Onn (Chairman), Chao Hick Tin and Heng Swee Keat.