The case describes the efforts of Group Audit at DBS Bank Singapore to enhance the value of services it offers to the organisation by adopting various methodologies that would make Internal Audit (IA) more effective. The case specifically focuses on Agile Auditing practices that was implemented on a pilot basis in 2016 as a part of Group Audit's Future of Auditing initiative, which was aimed at making IA productive, proactive, predictive and preventive. It demonstrates how introducing agile practices to IA can help overcome the limitations of traditional auditing practices, and also assesses the additional benefits of agile auditing. It also discusses the strategy used by the Internal Audit team to gain stakeholder engagement and support to implement agile auditing within the organisation and examines the tools used by the team to assist in executing agile auditing. It elaborates on the SCRUM framework adopted by the team and the technology enablers that enabled the DBS internal audit team to execute their pilot Internal Audit projects successfully. Finally, the case highlights the advantages that agile auditing brought for DBS Group audit, and provides insight into how an agile approach to auditing can be successfully adopted in an organisation with minimal disruption within the existing team setup.

Back in early 2013, Jimmy Ng, the new head of Group Audit at DBS received an urgent call from Kelvin Lam, Country Head of Taiwan Audit, requesting an increase in Taiwan's audit headcount by ten for mandatory audits required by the Financial Supervisory Commission in Taiwan. However, Ng was very sensitive about allocating more headcount to Taiwan, especially for compliance activities that consumed extensive resources. As DBS Taiwan had grown to 43 branches, the volume of mandatory audits kept increasing for the bank - all of its branches, business and support units were subject to two mandatory audits per year. In view of the cumbersome audit work and the serious consequence of compliance failure, Ng understood that providing more headcount would be of no help in the long run. A fundamental business strategy was required to rethink the auditing process to make it less volume sensitive. By the end of 2014, the implementation of new business processes proved to be very successful, and Ng and the audit team at DBS Taiwan could heave a sigh of relief.

The case is set in January 2014 and reveals the data analytics initiatives at DBS Group Audit. Group Audit was used to assess the riskiness of the bank's branches based on seven attributes derived from the auditors' collective wisdom. The results could sometimes be misleading and inaccurate. To revamp this process, a machine-learning predictive modelling technique was introduced, and successfully correlated more than 130 risk-related attributes. In February 2014, DBS Group Audit and A*STAR's Institute for Infocomm Research (I2R) reached an agreement to set up a joint lab, leveraging the research institute's capabilities in developing innovative products and services. The outputs of data analytics are displayed in three forms. First, the heat map reveals the risk level of all branches in Singapore from a birds-eye perspective. Second, complaint analysis helps to identify customer needs more accurately, reducing the level of complaint. Third, cash discrepancy and headcount issues are reflected on the outcome page as a sudden jump in the graph. With these techniques, the auditors were expected to save man-hours and process the auditing work more effectively and efficiently by being responsive to changing risk profiles on a timely basis. The application of data analytics on risk profiling practices at DBS Group Audit is an anchor point for the bank's vision of being predictive in risks. The bank is motivated to bring this data analytics initiative to other areas as well.

It was 30 December 2012, and Lee Kian Soon, the founder of Ezra Holdings Limited (Ezra), a Singapore-headquartered offshore oil and gas services company, was stepping down after 20 years as Executive Chairman of the company. Having been at the helm of the company for two decades, Lee had been instrumental in leading the business development, strategic planning and overall vision of the company. In 1992, Ezra had started off as a subcontractor in shipyards, and by 2012, had grown to become a US$984.2 million group in revenue, with activities encompassing marine and offshore support services and subsea construction. Although Ezra was a family-owned business, Lee was convinced that to enter the global stage and achieve its goals of internationalisation beyond the Asia-Pacific, the company would need someone with an experienced background who could provide the required leadership. On 31 December 2012, Ezra appointed an external candidate, Koh Poh Tiong, as the Chairman of its Board. Lee's son, Lionel, who had been with the company for ten years, remained as Ezra's Managing Director. Lee wondered if he was making the right move in appointing an external successor to the role of Chairman, and what were the implications of choosing an external successor for the company.

This case chronicles the events surrounding the six-week grounding of Tiger Airways Australia between June and August 2011. During this time, Tiger Airways Australia's revenue falls by 44% with the Tiger Airways Group share price falling 20%. Australian air safety regulators and key investors rapidly lose confidence in the company. This crisis necessitates drastic changes in the board of directors and executive leadership. On November 1, 2011, Chin Yau Seng is appointed the new CEO of the Tiger Airways Group. How can Chin guide the company as it emerges from the crisis, restore confidence and return the company back to normal operations?

The Singapore Exchange Limited (SGX) proposed takeover of the ASX Limited (ASX) is a watershed event, and the first of its kind involving two exchanges in Asia-Pacific. This case showcases the multifaceted dimensions and intricacies in forging corporate marriages. It covers several issues, including: Was the offer price right? Was the takeover strategy appropriate? Were the preparations adequate for key stakeholders' buy-ins for the takeover? Were employees' job security assured? What were the synergies and sustainable value-propositions and how were these transacted into corporate financial and cultural wellbeing? The case also presents the "twists and turns" of events that unfolded upon the announcement of the deal. It focuses on the concerns of key stakeholders critical to the success of this pioneering endeavour.

In March 2008, Olam faced a rating downgrade by Merrill Lynch, which caused a dramatic plunge in its share price. The management of Olam needed to respond to Merrill Lynch's rating downgrade, manage the impact of shift in growth strategy on short-term performance and balance leverage with long-term sustainable growth.

The case delineates how Olam International Limited became a global supplier of 14 agro-products including cashew nuts, cocoa and coffee. As Olam embarked on a growth-by-acquisition model, in addition to its organic growth model, the company had to reassess the need to adjust its present risk management system. The Board's risk committee was tasked to deliberate on the matter.