Companies these days face stricter ESG regulations, unprecedented technological disruptions, growing demands of accountability and transparency, alongside heightened risk management and other new challenges.

This is why the expectations of those appointed to the boards of listed companies have significantly increased. Existing and incoming board directors of these companies are required to have not just a good understanding of their roles and responsibilities, but also possess the expertise, vigilance and adaptability to improve decision-making and oversight.

In recent months, several company directors have found themselves in hot water and were brought to task under the Companies Act for not being good stewards of the businesses under their care. The spate of scandals involving company directors has highlighted the need to continuously uplift the proficiency of company directors through training programmes and mentorship.

As part of continuing efforts to uphold Singapore’s reputation in achieving high standards of corporate governance, the Singapore Exchange (SGX) has implemented a new rule that requires the tenure of independent directors of listed companies to be capped at nine years. 

Data shows that around one in five of 2,209 independent directors polled have served for more than nine years and will need to be replaced or redesignated to comply with the new rule, which kicked in in April 2024.

For those with little or no prior experience, they can turn to the Board of Directors (BOD) Masterclass Programme jointly organised by the Institute of Singapore Chartered Accountants (ISCA) and SAC Capital.

The 30-hour programme will help participants get up to speed on emerging threats and new trends, as well as stay updated on regulatory changes and best practices in the world of corporate governance.

It is open to participants based in Singapore and abroad. Participants have the option of attending the in-person masterclasses, or catch up on the recordings of the masterclasses through asynchronous learning.

The BOD Masterclass Programme is delivered through a blended learning model to cater to the busy schedules of its participants, whether they are first-time directors or have been board directors of listed companies or non-listed entities, such as non-profit organisations, for some time.

Complete the course at your own time, from anywhere

Time is always a big challenge faced by board directors who are contemplating signing up for a training programme. To overcome the time crunch, the BOD Masterclass Programme offers a combination of in-person learning and online learning.

There are four masterclasses conducted by experienced trainers well-versed in fields such as board performance, corporate strategies, audit, internal controls and cyber resilience.

Should there be a clash in timing between work and learning, the valuable insights shared by the trainers during class can still be accessed via play-back recordings hosted on ISCA’s online learning management system Boardflix.

Participants can access the recordings anytime and anywhere – as long as they have a working Internet connection.

Apart from the on-site masterclasses, which total 13 hours, the rest of the programme is conducted online via e-learning modules. These modules cover topics such as corporate governance, financial statement analysis, regulatory duties and sustainability.

A blended learning approach is not just highly flexible. It also has the advantage of allowing the individual to learn at their own pace so that they can spend more time on challenging topics or areas most relevant to their roles and interests, and less on areas they are already familiar with.

Online assessments at the end of each e-learning module will help participants reinforce what they have learnt during the lessons. ISCA will also provide bite-sized in-trend content and regulatory updates on Boardflix.

Experienced trainers and a well-designed curriculum

Launched in February 2024, the BOD Masterclass Programme is recognised by the Singapore Exchange Regulation (SGX RegCo). In an article published earlier this year, Mr Tan Boon Gin, CEO of SGX RegCo, said that the regulator was pleased to welcome ISCA and SAC Capital as another recognised training provider for directors of listed entities.

In an opinion piece by Mr Tan published in The Business Times, he stressed the importance of having high-quality boards for companies. He said that “new directors and independent directors will bring fresh ideas to the table”. Having a more diverse boardroom that comprises a mix of experienced and new directors will offer more varied views and better decision-making for the company, he elaborated in the article.

With the BOD Masterclass Programme, fresh directors will be equipped with the essential directorial skills for their new roles.

For example, the lessons on corporate actions and selected topics that address the fundamentals of listed companies are led by veterans in the fields.

Corporate governance and control, and enterprise risk management will be taught by a seasoned practitioner from an advisory firm.

Other experienced trainers include a legal and audit practitioner from a law firm who will teach Singapore company law, and a chartered accountant with over 30 years of multinational experience in assurance and advisory will cover the topic on financial statement analysis.

The trainers will share case studies to bring pertinent concepts and theories to life, helping participants better understand and relate to them. There will also be speakers from law enforcement agencies and regulators.

Gain real-world insights and guidance from industry mentors

Another unique feature of the BOD Masterclass Programme is a structured board mentoring programme that allows participants to connect with more experienced board directors.

An esteemed panel of mentors will be chaired by Mr Boon Swan Foo, ISCA Distinguished Lifetime Member and Fellow Chartered Accountant of Singapore.

These mentors come from diverse backgrounds and industries ranging from manufacturing to real estate, giving participants valuable opportunities to hear their personal “war stories”, and learn from their successful leadership and management styles. This includes Mr Gerard Ee, the former president and distinguished lifetime member of ISCA, who brings a wealth of experience from various charity boards.

On top of that, participants will be able to attend a complimentary live webinar series by Professor Mak Yuen Teen, who specialises in corporate governance at the National University of Singapore.

Over six one-hour sessions, Prof Mak will cover topics ranging from board effectiveness to corporate culture, while sharing the real-world case studies of listed companies in Singapore and overseas to help participants understand how to deftly navigate boardroom situations.

In addition to the many networking opportunities, those who enrolled in the BOD Masterclass Programme will be able to access ISCA’s board appointment services, which connect experienced Chartered Accountants with board appointment opportunities. The service matches qualified individuals with companies seeking directors with specific profiles, expertise and track records.

Visit ISCA-SAC's BOD Masterclass Programme for more information. The recorded e-learning modules are now available for registered participants. The playback of the recordings of masterclasses will be available after each in-person session.