Board’s conduct of its affairs

The Board meets four times a year and as and when necessary to address any significant matters that may arise. To enable the Board to fulfill its responsibilities, the Management Team strives to provide the Board members with adequate information for the Board meetings and on an ongoing basis. The Board also has direct and independent access to the Management Team for further information and explanation, if necessary.

Accountability and audit

The Board’s accounts are audited by the Auditor-General or such other auditor may be appointed annually by the Minister in consultation with the Auditor-General. The auditor engaged for financial year ended 31 March 2009 was KPMG. The auditor findings in the course of the annual financial audit are submitted to the Board and also reported to the Ministry of National Development. The audited financial statements and the auditor’s report are also presented to Parliament.

Internal control framework

NParks’ internal control system ensures that assets are safeguarded, proper accounting records are maintained, and that financial information is reliable. The overall control framework includes:

• An organisation structure with clearly defined authority and delegation limits and reporting mechanisms to higher levels of management and to the Board;
• An annual budgeting and quarterly financial reporting system for all operating units that enables progress against annual plans and objectives to be monitored, and vacancies to be acted upon;
• Compliance with the provisions of the National Parks Board Act, Chapter 198A, Singapore Financial Reporting Standards, Government Instruction Manuals, Finance and PSD Circulars and Minutes for policies and procedures related to operations, human resource management and financial controls and regulations.

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