With more than 30 years of experience in accountancy behind him, Lim was appointed chairman of the Accounting Standards Council for the term through October 2013. His appointment by the Ministry of Finance followed on the heels of another prestigious appointment, as chairman of the Pro-Tem Singapore Accountancy Council. Pro-Tem SAC, formed in September 2010, has been tasked with driving the implementation of key initiatives that will help transform Singapore into a global accountancy hub by 2020. Among initiatives taken last year was an MOU with the Institute of Internal Auditors Singapore to develop a new post-university certification programme for internal auditors. Lim also chairs the Land Transport Authority of Singapore and Nomura Singapore, and is a non-executive director of Nomura Holdings (Japan). A Chartered accountant by profession, he spent 33 years with Price Waterhouse and its successor PricewaterhouseCoopers before retiring in 2003 as its executive chairman.