Volume 1 | Issue VII
7th Annual European GRC Summit by Copenhagen Compliance
Scene: The Chairman of Global Mining has called for a meeting with the senior management and GRC officers together with the chairman of the Audit Committee.
Why do so many good governance, risk management, compliance, IT and audit practitioners select the Annual Governance, Risk Management, Compliance and IT security (GRC) Conference as their primary source of updates and information?
The Executive Roundtable Series from The Red Flag Group focusing on how to develop and implement a successful anti-corruption compliance programme arrives in Copenhagen in October. Join us for an interactive half-day workshop led by Scott Lane, Executive Chairman of The Red Flag Group, featuring a unique, hands-on approach, focusing on group exercises and discussion for an improved learning experience
Global Governance, Risk and Compliance Issues
EU directives and local regulatory compliance enforcement have now developed a clear plan on how a Board should fulfill its transparency, ethics and accountability (TEA) compliance responsibilities by providing reasonable oversight, developing an organization of culture and integrity, and by receiving and providing adequate role and responsibility relevant training, and by giving proper and direct access to ethics officers, committees. In short, the board must encourage the entire palate of GRC enforcement across the organisation.
Business and services can work together with a single point of accountability. Many companies are pushing to make IT and GRC operations work in tandem to improve compliance and are currently embarking on a transformation journey that is daunting in both size and scope when a decision to integrated business and GRC solutions is taken. The goal is to provide the company with cross border global data and information, communication technology, back-office operations, security, and procurement.
Bribery, Fraud and Corruption Issues
Many executives thinking that fraud and corruption are problems faced only by other companies or in other sectors. The percentage of those believing their company's anti-corruption policies are relevant to their work has actually decreased. Now fewer than half say their colleagues would consider the policies relevant.
It is serious business not to exercise effective regulatory compliance as an integral part of the business processes in any industry. Without self-regulation, noncompliance is the result of poor risk management. It is directly observable and potentially fatal
In recent years, companies have fundamentally changed the procedures for bribery, fraud and corruption (BFC) compliance, marketing and selling in the US to ensure that they operate with high standards of integrity and that the business activities are open and transparent.
Tone at the top is an overused phrase, but to enforce GRC issues management at all levels need to speak up forcefully. (Tone at the middle). No company can afford or tolerate any compliance violations, both financially and in terms of our reputation. The CFO's responsibility in implementing accountability, transparency to avoid non compliance.
Global Regulatory Compliance and EU Banking Union Issues
The global shadow banking sector was estimated to contain assets of approximately 51 trillion Euros in 2011 (currently $67 trillion), or nearly a third of the overall financial system and half the size of bank assets, according to the latest figures available from the Financial Stability Board. About a third of the sector's assets are held by firms in the U.S. and some 45 percent in the 28-country European Union.
The Volcker rule, a centerpiece of the new financial regulation known as Dodd-Frank, is an attempt to protect the financial system from risk. It is clear in concept prohibiting banks from making investment bets with their own money. But it has proved to be a mouthful for the oversight authorities.
We suggest that based on the attached information on Bribery, Fraud and Corruption you conduct a workshop to assess your BFC compliance maturity http://www.copenhagencharter.com/BFC-Brochure.pdf
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