Newsletter | Volume 1

I have two pieces of paper in my hand. One is the minutes of the board meeting where we discussed a number of Governance, Risk Management, Compliance and IT concerns. In 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.

Parallel Session at the 8th Annual European GRC Summit: The Values of E-learning with Paula Davis

Global Governance Issues

Morals are good but double- standards and morals are twice as good in the European Union

Will the appointment of Jean-Claude Juncker, Luxembourg's former prime minister, as president-designate of the European Commission, change Luxembourg role from a tax haven to paving the way for tax- harmonization across the EU?

EU financial transaction (Tobin) tax. What Merkel wants Merkel grabs

The "Robin Hood tax" on financial transactions is alive, well and lives in Berlin. It is believed that the failure to fully endorse the financial transaction tax (FTT) was one of the key areas where European efforts to stem the crisis are classified as "insufficient." Experience is that the tax would unfairly and adversely affect the financial trading business.

Bribary, Fraud and Corruption Issues

Ghana takes a bold move to wipe out bribery and corruption and establish FCPA best Practices.

In June 2014, the government of Ghana sponsored a conference to discuss how to fight the abuses in the oil and gas industry. The result was rewriting some clauses of the agreements with oil and gas companies. In future they are required to certify compliance with the FCPA, the Bribery Act, and the OECD anti-bribery convention.

Global Compliance Issues

The future of financial reporting: accountability and transparency will help understand how businesses operate and perform.

The demand for improved corporate accountability transparency is driving the shift from global accounting and reporting standards to additional disclosures around areas such as environmental or social responsibility and the adoption of XBRL for electronic publishing of financial results.

Avoid getting into unexpected oversight apprehension; Get third-party endorsement to verify processes and certify compliance.

We recommend an annual validation and certification of your CSR, anti-corruption and GRC compliance programs. The current focus on third-party assurance, effectiveness of company�s GRC compliance management systems, processes and procedures within global supply chains, will be the most integral tools to maintain an accountable, transparent and ethical GRC management system. All businesses must develop a comprehensive scheme, sound knowledge on several components of GRC regulatory legislation as well as their understanding of day-to-day business realities. Certification help companies to strengthen and promote their GRC compliance programs through certification.