[BCM] [MINDS] [E3] [BIA] [T3] [CBF] [7] Governance, Compliance, and Regulatory Reporting

CBF-7 Governance, Compliance, and Regulatory Reporting

Part 5: Inter-dependencies focuses on the critical relationships that CBF-7 Governance, Compliance, and Regulatory Reporting maintains with other business functions, internal units, and external stakeholders.

Governance and compliance activities are inherently interconnected with multiple areas of the organisation, as well as regulatory and oversight bodies in Singapore.

Understanding these inter-dependencies is essential to ensure that MINDS can operate effectively, meet statutory and regulatory obligations, and maintain stakeholder confidence.

This chapter identifies the key internal and external parties that each sub-critical business function (Sub-CBF) interacts with, the nature of these dependencies, and the directional flow of influence—whether upstream, downstream, or mutual—thereby providing clarity on how responsibilities, information, and processes are coordinated across the organisation.

Table P5: Inter‑dependencies for CBF-7

Sub-CBF Code	Sub-CBF	Name of Business Unit or Vendor / Supplier / Outsource Partner	Type of Dependency – Internal	Type of Dependency – External	Dependency Direction (Upstream / Downstream / Mutual)	Description of Nature of Dependency
7.1	Board Governance & Strategic Oversight	Board of Directors, Executive Management	X	-	Upstream	Board provides strategic direction, approves policies, and receives performance reports from internal units.
7.2	Policy Development & Review	HR, Legal, Compliance	X	Regulatory Authorities	Mutual	HR and Legal draft policies; Compliance reviews; regulatory bodies provide guidance and updates.
7.3	Regulatory Compliance Management	Compliance Department, Finance	X	Ministry of Social and Family Development (MSF), Singapore Charities Commission	Downstream	Compliance monitors adherence to laws and regulations, submits reports, and receives regulatory feedback.
7.4	Risk Management & Internal Controls	Risk Management, Internal Audit	X	External Consultants	Mutual	Internal units identify and assess risks; consultants provide risk assessments and best practices.
7.5	Internal Audit & Assurance	Internal Audit Department	X	External Audit Firms	Downstream	Internal audit reviews internal controls and processes, shares findings with management; external auditors validate reports.
7.6	External Reporting & Filings	Finance, IT, Compliance	X	MSF, Charity Governance Bodies	Downstream	Prepares statutory and regulatory filings; reports submitted via online platforms or physical documentation.
7.7	Stakeholder Accountability & Transparency Communications	Communications, PR	X	Donors, Sponsors, Partners	Mutual	Communicates organizational performance, initiatives, and reports to external stakeholders; feedback received informs internal planning.
7.8	Ethics & Whistleblowing Management	HR, Compliance	X	Legal Advisors, Regulatory Agencies	Mutual	HR and Compliance manage whistleblowing reports; legal advisors provide guidance; agencies may require reporting of cases.

The inter-dependencies highlighted in this chapter underscore that CBF-7 Governance, Compliance, and Regulatory Reporting does not operate in isolation.

Its effectiveness relies on coordinated engagement with internal units such as Finance, HR, Risk Management, and Internal Audit, as well as external regulators, legal advisors, donors, and other stakeholders.

Recognising these relationships allows MINDS to proactively manage compliance risks, strengthen internal controls, and maintain transparent communication with stakeholders.

By mapping these dependencies, the organisation can better anticipate challenges, streamline reporting processes, and reinforce a governance culture that upholds accountability, ethical conduct, and regulatory adherence across all levels of operations.

CBF-7 Governance, Compliance, and Regulatory Reporting

These records serve as the foundation for decision-making, regulatory adherence, risk management, and stakeholder communication.

They include both physical and digital formats and are maintained across various departments to ensure integrity, accessibility, and compliance with statutory and organisational requirements.

Identifying and safeguarding these vital records is critical not only for operational continuity but also for demonstrating accountability, transparency, and compliance to regulators, donors, and other stakeholders.

This chapter outlines the essential records associated with each Sub-CBF, their media types, storage locations, and the individuals responsible for their care.

Table P6: Vital Records for CBF-7

Sub-CBF Code	Sub-CBF	Description of Vital Records	Media Type	Location	In Whose Care
7.1	Board Governance & Strategic Oversight	Board meeting minutes, strategic plans, approved resolutions, annual reports	Document, Digital Files	Board Secretariat Office, Cloud Storage	Board Secretary
7.2	Policy Development & Review	Approved policies, policy manuals, review logs, revision records	Document, Digital Files	Policy Office, Intranet	Compliance Officer / HR
7.3	Regulatory Compliance Management	Compliance registers, regulatory filings, licenses, certificates	Document, Digital Files	Compliance Department, Cloud Storage	Compliance Manager
7.4	Risk Management & Internal Controls	Risk assessment reports, control matrices, risk registers	Document, Digital Files	Risk Management Office, Secure Server	Risk Manager
7.5	Internal Audit & Assurance	Internal audit reports, audit plans, management responses	Document, Digital Files	Internal Audit Department, Secure Server	Chief Internal Auditor
7.6	External Reporting & Filings	Financial statements, statutory returns, charity commission filings	Document, Digital Files	Finance Department, Regulatory Portals	Finance Manager
7.7	Stakeholder Accountability & Transparency Communications	Annual reports, newsletters, stakeholder communication logs	Document, Digital Files	Communications Office, Website	Communications Manager
7.8	Ethics & Whistleblowing Management	Whistleblowing reports, investigation records, resolution documentation	Document, Digital Files	HR & Compliance Office, Secure Storage	HR Manager / Compliance Officer

The identification and management of vital records in CBF-7 are integral to sustaining governance, regulatory compliance, and accountability within MINDS. Proper stewardship ensures that critical information is preserved, easily retrievable, and protected against loss, damage, or unauthorised access.

By maintaining accurate and accessible records, the organisation can support effective oversight, respond efficiently to regulatory requirements, and reinforce stakeholder trust. This structured approach to vital records management strengthens MINDS’ overall resilience, enabling it to continue delivering high-quality services while upholding ethical and legal obligations.

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[BCM] [MINDS] [E3] [BIA] [T3] [CBF] [7] Governance, Compliance, and Regulatory Reporting

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CBF-7 Governance, Compliance, and Regulatory Reporting

Table P5: Inter‑dependencies for CBF-7

CBF-7 Governance, Compliance, and Regulatory Reporting

Table P6: Vital Records for CBF-7

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Table P5: Inter‑dependencies for CBF-7

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