Singaporean is first Asian appointed to FIA Audit Committee

SINGAPORE — Mr Bernard Tay, president of the Automobile Association of Singapore, has become the first Asian elected into the Audit Committee of the Federation Internationale de l’ Automobile (FIA), the world governing body for motor sports.

Mr Tay’s appointment was announced during the FIA’s Annual General Assembly held at Doha last week.

“It is an honour to serve on the Audit Committee. The Audit Committee holds responsibility for ensuring the accuracy and relevance of FIA’s financial reports. I look forward to working with the rest of Committee members,” said Mr Tay.

Former Ferrari CEO and current FIA president Mr Jean Todt welcomed Mr Tay’s appointment to the Audit Committee. “The FIA is well-represented in this growing region as our Singapore members are professional, loyal to the organisation and bring with them many years of experience,” said Mr Todt.

The FIA Audit Committee ensures the accuracy, relevance and permanence of the accounting methods adopted by the organisation, as well as the integrity of the internal procedures for the collection and control of information used for financial reports.

Three other Singaporeans also currently hold posts at the FIA. Mr Tan Teng Lip, president of the Singapore Motor Sport Association, was elected in 2009 as a member to decide on rules and regulations for FIA’s various racing series. Mr Nish Shetty is on the FIA’s International Court of Appeal; and Mr Colin Syn, deputy chairman of Singapore Grand Prix, joined the executive committee of the FIA Institute for Motor Sport Safety in 2011.