Corporate Governance

IRAS Board

The IRAS Board oversees IRAS and ensures that it carries out its functions competently. The Chairman of the Board is Mrs Tan Ching Yee, Permanent Secretary of the Ministry of Finance. The nine other members are Mr Tan Tee How, the Commissioner of Inland Revenue and Chief Executive Officer of IRAS, Mr Niam Chiang Meng, Mr Bob Tan, Mrs Chng Sok Hui, Dr Philip Pillai, Mr Adam Abdur Rahman, Mr Ng Wai Choong, Professor Sum Yee Loong and Mr Tan Boon Gin.

The Board met three times last year to review major corporate policies, approve financial statements, annual budget and major expenditure projects. The Board has two committees, the Audit and Risk Committee and the Staff Committee A, to assist in carrying out its duties.

Audit Committee

Mr Niam Chiang Meng chairs the Audit and Risk Committee. Its other members are Mrs Chng Sok Hui, Dr Philip Pillai, Professor Sum Yee Loong and Mr Tan Boon Gin. The Committee reviews the adequacy and compliance of IRAS’ accounting and financial policies and internal controls. The Committee works closely with the external auditor, the Auditor-General, in reviewing the financial statements of IRAS, the scope of audit plans and the audit results. The Committee also reviews the annual audit plan of the Internal Audit Branch and the enterprise risk management framework and processes.

Staff Committee A

Mr Bob Tan chairs the Staff Committee A. Its other members are Mr Tan Tee How, Commissioner of Inland Revenue and Chief Executive Officer of IRAS, Mr Adam Abdur Rahman and Mr Ng Wai Choong. The Staff Committee A is the approving authority for key remuneration policies in IRAS as well as key appointments, promotion and remuneration of senior executives in IRAS.

Internal Audit Function

The Internal Audit Branch operates independently from other divisions of IRAS to provide objective audit assurance to management to assist them in the effective discharge of their responsibilities and in the attainment of corporate objectives. It evaluates the adequacy and effectiveness of internal controls in IRAS; checks for compliance with policies, guidelines, laws and regulations; audits tax assessments to verify that tax principles have been correctly applied; and makes recommendations to improve the effectiveness of controls and processes. It also ensures that results of the audits and recommendations for improvements are promptly communicated to the management of the functional area, and that plans or actions taken to correct reported audit findings are satisfactory.

The Internal Audit Branch reports functionally to the Audit and Risk Committee and administratively to the Commissioner of Inland Revenue / Chief Executive Officer of IRAS. The staff of the Internal Audit Branch have full and direct access to the Audit and Risk Committee.

Professional and Ethical Conduct

Every IRAS staff has to maintain high standards of professional integrity and personal conduct. They are required to abide by the IRAS Act, as well as the IRAS Code of Conduct which provides guidance on matters such as the acceptance of gifts in the official course of duties, avoidance of situations with conflicts of interests, and disciplinary proceedings for staff who have failed to comply. In addition, to safeguard official information, all IRAS staff are subject to secrecy provisions in relevant legislations such as the Official Secrets Act, the Statutory Bodies and Government Companies (Protection of Secrecy) Act, the IRAS Act, the Income Tax Act and the Goods and Services Tax Act.