Compliance & Governance COMPLIANCE & GOVERNANCE
Compliance, to legal regulationsand international standards, covers different issues: financial, accounting, quality, information system security, workplace safety, business continuity. It represents a significant percentage of a company’s governance.
This means that it is not an ‘of which’ of the business organisation, but an integral part of it and therefore must be a tool on which to pivot to achieve effectiveness and efficiency in business processes.
The term Corporate Governance represents ‘the engine’ of companies as it identifies: the processes by which companies are directed and controlled; the activities by which companies are encouraged to follow codes, i.e. lines of corporate governance. Corporate governance encompasses a set of corporate rules, relationships, processes and systems through which fiduciary authority is exercised and controlled. Rules include the laws of the country in which the company operates and internal corporate rules.
Relationships include those between all parties involved in the company, such as owners, managers, directors, regulatory authorities, as well as employees and society at large.