I have two pieces of paper in my hand. The one is
the minutes of the board meeting where we discussed a number of Governance,
Risk Management, Compliance and IT concerns. On the other hand I have the
agenda of the "8th annual European GRC SUMMIT in Copenhagen", on September
22rd -23rd 2014 at the Confederation of Danish Industries.
The experience from HR assessments is that succession
planning is not an issue companies address in a systematic way. The challenges
often occur when profits are small, face organizational challenges, sudden
changes and more. Companies that rely on management to carry out the goals
and missions, provide services but they must also address the issues that
changing realities on succession planning. It must move high up on the corporate
The real ratios of income inequality around the world
have become incredible. The Walton family (Wal-Mart) in the US has as much
wealth as the bottom 35-40%. Sweden has the highest share of wealth held
by the top 10% in Europe, followed by Germany and the UK, Finland and Italy
. The leading industrial family in Sweden, the Wallenberg family, have controlling
interest in major companies like ABB, Ericsson, Electrolux, Atlas Copco,
SKF, AstraZeneca and Saab and doing an excellent job for the Global economy.
Risk Management Issues
Corporate governance issues have lately become a highly
discussed and controversial management component, both at the directors
and managerial level. In order for the individual company to develop its
own customized framework and roadmap, each business unit must understand
the political, structural and historical development in the organization.
Sometimes consultants have a negative reputation.
This happens when there is no balance between cost and benefit or the work
results in stacks of PowerPoint slides or when the results are more or less
archived into a digital or other storeroom and the untested processes that
not explained, integrated or embedded.
Corporate Social responsibility Issues
We are proud to announce that Jeffrey Avina, Citizenship
and Community Affairs director for Microsoft will conduct this �do not miss�
CSR event. Jeffrey is responsible for setting Microsoft�s corporate social
responsibility strategy in 79 countries, linking activities to government
and donor expenditures in health, education, governance, and disaster management.
Prior to joining Microsoft, Jeffrey was director of operations of the United
Nations Office on Drugs and Crime.
In the meantime oversight authorities all over the
worlds are looking for cases to prosecute under the U.S. Foreign Corrupt
Practices Act (FCPA) and the UK Bribery Act, which prohibit payments to
government officials, including state-employed doctors, to obtain business
What are the major components and attributes associated
with implementing an effective GRC program in China? The 8th annual European
GRC summit offers a 2 part session on doing business in China. Foreign subsidiaries
continue to enter the Chinese market. It is important to keep in mind the
fundamental cultural differences in China and e.g. Scandinavia and other
Western countries. The two sessions will explore the latest in Risk Management,
Governance and Compliance challenges on the Chinese sub-continent.
From how to communicate with regulators, suppliers, and third parties to
what a foreign subsidiary can do to remedy the compliance risks in China.
Luka Lu, LLM, Capital Associates, PRC Lawyers
Signe Elb�k, LLM, Corporate Compliance Officer, Corporate Legal & IP, Coloplast.
The ECJ ruling involved the case of a Spanish man
whose Google search results linked to a 1998 newspaper listing of a property
auction, which mentioned his past social security debts. The Spanish regulator
ruled that the paper need not remove the original official notice but Google
had to stop linking to it. Europe�s most senior judges have concurred.
Class action suit targets 13 stock exchanges for high-frequency
trading. From the NSA leaks to the horse meat in Ikea meatballs, 2013 was
an eventful one on the scandal front.
IT Security Issues
The United States has accused China of vast business
spying activities by charging five military officials for hacking into US
companies to steal vital trade secrets. The claim is that China-based hackers
have launched computer attacks on American industrial and military targets,
often to steal secrets or intellectual property. The Chinese official claim
to be victims as they are the ones who face a significant threat from the
NSA and US Cyber Command.
Copenhagen Compliance has continuously provided guidance
on how organizations can implement a governance and risk-based approach
to IT security issues, by making these issues visible, measurable and actionable.
At the conference on 22-23. September 2014 we will demonstrate the Security
Risk Management tools that support both advanced reporting capabilities
and interconnectivity to ensure that remediation actions for IT breaches,
controls and tests.