Corporate Governance refers to the activities in which companies are governed. That includes business operations and proceedings based on adopted policies, processes and working practices. From a governance perspective that is the manner how a company is directed and controlled.
Corporate governance ensures that businesses have appropriate decision-making processes and methods of controls in place which support the interests of all stakeholders. That is a very complex ambient which includes multiple and diverse interests, needs and expectations of all interested parties. At the same time, it is a very sensitive environment which requires careful attention due to high risk of misuse of authority and position and potential losses and threatening of the corporate image in case of misconduct of governance.
What we can do for you?
We are completely focused on the prevention of corporate governance misconduct, which usually relates to some form of compliance like customer satisfaction / complaint handling / problem resolution, or transparent procurement process for prevention of anti-corruption practices etc.
In that sense, we provide thorough and systematic audits services founded on corporate governance principles, additionally adapted to the client’s requests. Typically, the area of inquiry covers:
- Ethical issues — an organization’s ethical behaviour concerning people, animals and the environment, which includes: (a) honesty, equity and integrity; (b) fair operating practices.
- Transparency — foundation for making decisions and performing activities that impact on society and the environment: (a) bribery and fraud / anticorruption; (b) customer-related practices; (c) decision-making process related to procurement / Supply chain issues; (d) governing risks and change processes.
- Accountability — liability toward impacts on society, the economy and the environment which must answer to the legal and regulatory requirements, such as: (a) health and environment responsibility; (b) consumer Privacy and data security; (c) social responsibility; (d) Community development.
- Responsibility — duties to perform actions and accept the results of the performed actions related to the: (a) human rights; (b) civil and political rights; (c) economic, social and cultural rights; (d) labour practices (Non-discrimination / No Forced labour / No Child labour / No inhuman treatment / Modern slavery / Fair wages and benefits).
Inquiry and intervention
At the first instance, and based on the subject of inquiry and the context of the organization, we develop a requirement’s framework for further scrutiny. They usually relate to the standardized and well-accepted frameworks which become an agreed framework for operationalization.
We shall perform screening of the existing organizational ambient and generate the report with additional elaborations.
For each of those groups, there are numerous documents and procedures which needs regular audits in order to demonstrate social responsibility which includes all involved parties – customers, shareholders, employees, suppliers, legislative and regulatory bodies and wider social community, and which could support overall organizational image and reputation.
Based on the screening results we shall develop an intervention program that will describe necessary actions toward processes, interventions to structures, measures and controls.
As an external party, we are more resilient to internal issues and we can more efficiently perform the interventions.
In a case of the blame, as the external party we are certainly best party to address the blame.