NUS is committed to a high standard of corporate
governance and has always recognised the
importance of good governance as being critical
to the effective performance and operation of the
University. Good governance is also crucial in realising
its vision of being a leading global university centred
in Asia, influencing the future, excelling in teaching,
research, enterprise, thought-leadership and public
service. The University has accordingly put in place a
corporate governance structure with comprehensive
and clear lines of reporting, responsibility and
accountability.
In addition to the application of good governance
practices as a corporate entity, we have as an institution
of public character ("IPC"), adopted best practices in
key areas of governance that are closely aligned to
the principles enunciated in the Code of Governance
for Charities and Institutions of a Public Character
(the "Code"). In line with the disclosure requirement
by the Charity Council that all IPCs are required to
disclose the extent of their compliance with the Code,
NUS' Governance Evaluation Checklist can be found
at the Charity Portal website charities.gov.sg.
The NUS Board of Trustees comprises 23 members
appointed by the Minister for Education, and is chaired
by Mr Wong Ngit Liong. Our Board of Trustees includes
eminent business leaders, academics, entrepreneurs,
and professionals from the public service and private
sectors. Members are appointed on the strength of
their calibre, experience, stature and potential to contribute to the proper guidance and development
of the University, as well as valuable relationships
which they bring that are of strategic importance
to the University. Profiles of the Board members are
found on page 12 to 15 of the Annual Report.
The Board of Trustees is responsible for ensuring
that the University acts in the furtherance of its
objectives in education and research, and properly
accounts and safeguards the funds and assets of the
University. The Board of Trustees works closely with
the management and stakeholders of the University
to shape the vision, chart the major directions, and
develop programmes and initiatives to produce a
strong and enduring impact for the University, and
for Singapore and beyond.
To support the Board of Trustees in discharging
its functions, Board committees have been formed
as dictated by corporate, operational and business
needs pursuant to the Articles of Association of
the University. There are eight Board committees,
namely, the Executive Committee, Audit Committee,
Campus Planning and Development Committee,
Entrepreneurship Committee, Investment Committee,
Nominating Committee, Remuneration Committee,
and Development Committee. These Board committees
assist the Board of Trustees to provide oversight of
the University and to facilitate decision making.
Membership of the Board Committees is carefully
selected to ensure an equitable distribution of
responsibility among Board members and promote
the effectiveness of each committee's focus and
contribution. Where necessary, non-Board members
who have expertise in their respective fields are also
co-opted to enhance the deliberations and decision
making process of some of the Board Committees.
The present composition of the Board Committees is as follows:
Management functions and day-to-day operations of
the University are led by the Senior Management of
the University, headed by the President, Professor Tan
Chorh Chuan. The President is the University's Chief
Executive Officer. Details of the management team
can be found at its website nus.edu.sg.
Board members and staff are required in their
respective capacities to act at all times in the best
interest of the University. Policies and procedures are
designed to prevent and address potential conflict-of-interest situations while promoting ethical business
conduct of officers and staff in line with the strong
focus of the University on integrity.
NUS' Articles of Association contain provisions
for the management and avoidance of conflicts of
interest by members of its Board of Trustees. Such
provisions include (a) permitting a Board member to
be interested in any transaction with NUS provided
that the member has declared the nature of the
interest to the Board of Trustees and abstains from
participating in the Board's decision in respect of
the transaction concerned, (b) permitting a Board
member, or a firm associated with the member, to
act in any professional capacity for the University and
to be remunerated for professional services as if the
Board member was not a Trustee, and (c) permitting a Board member to be reimbursed for out-of-pocket
expenses, travelling and other expenses properly
incurred by the Board member in attending and
returning from meetings of the Board of Trustees,
any of its committees, or any general meeting of the
University or otherwise in connection with the affairs
of the University. NUS Articles' expressly stipulate that
Board members shall not receive any remuneration
for services rendered by them as members of the
Board of Trustees.
In addition, the Board of Trustees has adopted the
practice of requiring every Board member to annually
review and refresh their independence by disclosing
to the Nominating Committee whether there are any
factors that will affect the member's independence in
the decision making process of the Board.
The University's terms of business and code of
conduct for staff include a Conflict of Interest Policy
which all staff members must observe and comply
with. In accordance with the current Policy, staff
must ensure that their private activities and interests
do not conflict with their professional obligations
to the University. Where there is potential violation
of a prohibition, the staff member shall make a
full disclosure and may request for an exception.
Approval for an exception will be at the discretion
of the University. In addition, staff members must
declare annually their compliance with the University's
prevailing policy on conflict of interest and other
related policies.
