Risk Management Issues
In the ever-expanding universe of enterprise risk
controls, management continuously has a dialog on best practices, which
are either recommended by an expert, an organization or adapted from a best-in-class
company. The attention to best practices results in risk management processes
that are sterile, repetitive, and visible. This predictable development
adds nothing new to the business, as you are walking in another person,
company or organisations footsteps.
Over the past year, boards of directors, management
and CXO- C-level officers, continue to face increasing scrutiny from shareholders,
regulators, and other stakeholders. The consequences of non-compliance to
risk management have become more severe in terms of regulatory enforcement,
shareholder litigation and loss of reputation due to market reaction. We
expect these trends to continue in the years to come. Therefore, proactive
board oversight and management involvement will remain crucial in this challenging
Corporate governance issues have recently become a
highly discussed and controversial management component, both at the directors
and managerial level. In order for the individual company to develop its
customized framework and roadmap, each business unit must understand the
political, structural and historical development in the organization.
Nordic companies have transformed authority and mechanisms
of the welfare state and sharpened the corporate governance agenda for strategic
business value, development and performance. Here's why and how.
Fordham Law School has taken into account the increasing
demand from the global business community for governance, risk management
and compliance (GRC) professionals. Copenhagen Compliance® believes
that it GRC is one of the most significant growth areas in legal education.
The GRC course offerings globally have been adjusted to respond to the corporate
and oversight demand.
Global regulators will include banks' and insurers'
senior non-executives alongside chairmen in a tight new personal liability
regime. The result could be that the codex could deter the old school directors
from taking top roles in the industry.
While regulators at best can and must only provide
big guidance on the overall IT issues on a moving target. The European Data
Protection Supervisor (EDPS), has indicated that their revised legal framework
will place extra pressures on people who control data. They need to adopt
high standards of verifying consumer's consent to use their information.
The Copenhagen Compliance® GRC3 (Governance,
Risk Management, Compliance and IT-security) methodology, lets companies
integrate and manage each GRC procedure, process and operation. GRC3
protocols are embedded and integrated in functions and systems that manage
core GRC tasks, into a single integrated set of GRC processes and activities.
Bribery, Fraud and Corruption Issuess
The assessment of Copenhagen Charter on BFC is to
identify key points of BFC oversight and interaction and to provide reasonable
assurance for transparency, accountability and visibility in BRF compliance
defined tin the roadmap and framework.
The Copenhagen Compliance® succession planning
road map is a structured, robust and healthy leadership talent development
tool. Together with the roadmap it delivers a pipeline of qualified internal
candidates for possible promotion with significant GRC responsibility as
a bonus component.
One of the corporate world's most respected executive
believes that it requires a trim waistline, less sleep and daily exercise
to improve the bottom line of the company. This is true of the enterprise
requires sustainable and large-scale transformation of its business processes.
The primary component is not GRC, but hard work, long hours and being in
a good shape, fit for fight.
Post financial crisis, Governance, Risk Management
and Compliance (GRC) enforcement is gathering momentum and the dynamic GRC
components have a growing interest all over the world. Establishment of
global GRC compliance programs is critical to prevent violations, even though
companies do not get credit for the quality of the GRC program from the