Corporate Governance
The corporate environment is becoming ever more regulated, imposing additional requirements on organisations to develop and maintain an effective corporate governance framework. Corporate governance is gaining an increasingly important role in the collaboration with third parties and other stakeholders.
The design, implementation and continuous monitoring of each company’s corporate governance framework, in alignment with regulatory requirements and best practices, is a challenge.
PwC works with clients to develop practical, integrated, effective and efficient governance frameworks that are consistent with the regulatory requirements, but also each company’s strategy, values and stakeholders’ expectations, by:
- Designing and implementing Corporate Governance structures and frameworks;
- Conducting effectiveness and efficiency reviews of Boards of Directors and Audit Committees and comparison against best practices;
- Board and Audit Committee self assessment tools;
- Developing and reviewing Corporate Governance Statements;
- Reviewing Code of Conduct and Anti-Bribery/Anti-Corruption policies;
- Developing whistle-blowing policies;
- Providing training on governance to executives and staff.
Successes
- Review over the effectiveness and efficiency of Group Audit Committee operations for a large financial institution. The overall objective of PwC’s work was to assess the effectiveness and efficiency of the operations of the Audit Committee in comparison with best practices and to provide relevant recommendations, while ensuring the uniformity and homogeneity of operations of all the subsidiaries’ Audit Committees.
- Review of policies related to Code of Conduct and Anti-Corruption policies of a large shipping company. PwC was assigned to conduct training to employees regarding the Company’s Code of Conduct and Anti-Corruption policies, as well as to assist with the development of detailed procedures for reporting violations, monitoring and approval of gifts and entertainment expenses and enhancing internal controls to support compliance with the Code.
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