Ernst & Young today announces the appointment of Mrs. Lim Hwee Hua as an independent non-executive to our Global Advisory Council.
This follows Ernst & Young’s adoption of the UK Audit Firm Governance Code. As the most integrated organization in our profession (in Asia-Pacific and globally), Ernst & Young is appointing the independent non-executives on a global basis, rather than just at a UK level. Mrs. Lim’s appointment demonstrates the depth of our commitment to Asia-Pacific, its perspectives and its markets.
A former Singapore Minister in the Prime Minister’s Office, Second Minister for Finance and Managing Director at Temasek, Mrs. Lim is one of five independent non-executives to be appointed by Ernst & Young. In February 2011 three independent non-executive appointments were announced. Concurrent with Mrs. Lim’s appointment, Ernst & Young also appointed Ms. Shyamala Gopinath, former deputy governor of the Reserve Bank of India, as an independent non-executive.
Jim Turley, Global Chairman and CEO of Ernst & Young, said, “These two outstanding women will join Ernst & Young’s Global Advisory Council (GAC), our top governance body. They will join partners from across the globe who otherwise do not hold senior management roles and are elected by their peers. The GAC approves significant matters that affect the organization and advises on policy, strategy and all public-interest aspects of our decision-making.”
“Mrs. Lim’s broad experience, external viewpoints and diverse perspectives will bring a valuable dimension that will enhance the quality of services we provide around the world,” says Max Loh, the Singapore-based Asean Managing Partner for Ernst & Young. “The appointment also demonstrates Ernst & Young’s deep commitment to Asia-Pacific markets and the highly integrated service we are able to provide across this diverse and dynamic region.”
Commenting on her new role, Mrs. Lim said, “I am excited about becoming an independent nonexecutive member on Ernst & Young’s Global Advisory Council. This appointment will provide me with an opportunity to enhance the role that accounting professionals and organizations are playing in Asia. The Asian markets are increasing in prominence. It is important to participate in the decision-making of accounting-related matters and practices."