Do your homework before joining a board

In May 2012, the Monetary Authority of Singapore issued the revised corporate governance standards. All companies must now ensure that independent directors make up at least one-third of the board. And in some cases, the code expects at least half of the board to be independent.  In light of the impending increase in the demand for independent directors, SOA Associate Dean Themin Suwardy highlighted in a commentary article the importance for potential board directors to do their ‘background homework' before making their decision on joining boards.