Governance
Now One of the
Now One of the
Hottest Topics
in the Business World.
The key is to recognise that Governance relates primarily to stakeholder management. The Board and the Audit Committee therefore need comprehensive assurance about this strategic business process, in order to satisfy the range of Stakeholder requirements.
Governance
Risk Management
Compliance
Our Capabilities
How We Can Help
We partner with organizations to build robust governance frameworks, enhance strategic awareness, and deliver informed decision-making processes.
Build better understanding of the requirements and benefits of Corporate Governance
Enhance the Board and Audit Committee role in Corporate Governance oversight
Develop an effective process to balance the interests of the key stakeholders
Adopt a collaborative approach when designing the scope and objectives of Governance assurance reviews.
Enhance strategic awareness throughout the business
Deliver a more informed decision making process
Reduce surprises and corporate failures
Better communicate Governance successes
Apply the best practices and CG activities are extracting maximum value
Core Areas of Expertise
1
The Key Aspects of Governance
- The key aspects of Corporate Governance
- 6 core principles of governance
- Governance warning signs
- New corporate governance insights paper will be shared
- How the organisation is managed on behalf of the stakeholders
- Governance statements highlighting maturity
- The key parties within Governance
2
The Role of the Board of Directors in relation to Governance
- The Board’s role is to oversee the management and governance of the business
- Review and approve significant corporate actions
- Review and monitor implementation of management’s strategic plans
- Monitor corporate performance and evaluate results compared to the strategic plans and other long-range goals
- Review and approve the Company’s annual operating plans and budgets
- Review the financial controls and reporting systems
- Oversee the management of enterprise risk
- Review the ethical standards and legal compliance process
- Monitor relations with shareholders, employees, and the communities in which the business operates.
3
Assessing the effectiveness of Governance
- Business process analysis techniques
- Process objectives and risk
- The need to understand the business objectives
- Developing a programme to reflect these objectives
- Defining and measuring strategic objectives
- Determining process components
- The link between objectives and risk
- The link between risks and controls
- Process and business system controls
- The link between inputs and outputs
4
The Audit Committee and Governance
- The Audit Committee role
- The governance custodians
- Structure and independence
- Considering the reports of external audit and other external agencies
- Reviewing the effectiveness of relationships between IA and EA and other bodies reviewed
- Assessing the effectiveness of the risk management environment and anti-fraud arrangements
- The Audit Committee / business relationship
- Reviewing Governance statements and the annual statement of accounts to ensure both properly reflect the risk
- An Audit Committee checklist will be shared
5
Meeting Stakeholder expectations
- Who are the stakeholders?
- Are stakeholders’ expectations known?
- Are the expectations clear?
- How can you meet the widely differing expectations?
- Are there any areas where expectations could be exceeded?
- Are there any quick wins?
- What reports should be provided to stakeholders?
6
Environmental management
- Overview of current environmental thinking
- Structure and requirements of ISO 14001
- Key environmental concepts and essential terminology
- Key focus areas for auditing core environmental processes
- Overview of current environmental legislative requirements Objectives and types of environmental audits
- Processes and techniques for planning, conducting & reporting
- Ensuring consistency
- Developing a Departmental Environmental Policy
7
Ethical and sustainable purchasing
- Are key suppliers located in emerging markets with high social, human labour, environmental risks?
- Is the supply chain part of an industry with high social and, environmental responsibility?
- Does the business have a responsible purchasing policy/Code of Conduct for suppliers?
- Are ESG criteria included in the selection and monitoring of key suppliers?
- Compliance with health and safety regulations and/or Departmental guidelines
- Packaging materials (quantity, biodegradability, recyclability etc.)
8
Social Responsibility
- The increasing importance of Corporate Social Responsibility (CSR)
- What constitutes CSR
- The wider aspects of CSR and the implications
- Doing responsible things responsibly
- Redefining the process with CSR in mind
- Is communication with main stakeholders taken seriously?
- Are the expectations of these stakeholders accurately understood, and what are the risks that these will not be met?
- Are opportunities taken to develop the ethical reputation of the business?
- How do we ensure that staff have and display the right attitudes?
- Has the business assessed its reputation for social responsibility and its impact on our business prosperity?
- Is the Board, and in particular the Chief Executive, sensitive and responsive to the concerns of customers
9
IT Governance
- The need to ensure IT processes directly support the organisation’s strategies and objectives.
- IT governance helps ensure close linkage to the ERM activities
- identifying potential opportunities to improve IT practices and processes
- Identifying the high risk areas
- Assess IT vulnerabilities
- A general policy on the level of security and privacy throughout the organization
- A statement on the classification of information and the rights of access at each level
- A definition of the concepts of data and systems ownership, as well as the authority necessary to originate, modify, or delete information
- Use of key frameworks such ISO 27000