A Different Approach

Author:Chrissie Davis
Profession:ICSA
 
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Strategic influencers can help to bring clarity of voice to governance and compliance within an organisation

Just imagine a future where the voice of governance and compliance is clear - not only is it heard, but also understood, universally respected as a business enabler, and applied consistently throughout your organisation.

With an ongoing commitment to projecting this voice, the key principles of governance and compliance can be used in everyday operational decisions and form a core aspect of company culture. As a result, they can be fully utilised as a strong foundation in support of delivering long-term sustainable performance for all stakeholders to benefit from, while promoting agility and trust as we continue to traverse an ever-disrupted business environment.

There's currently inconsistency in the way we speak about governance and compliance, and the frequency and tone in which we deliver it, but we have the ability to be instrumental in driving change and placing it at the heart of company culture.

A New Era

With implementation well underway to comply with a number of sweeping changes made in 2018 to the UK corporate governance framework for both premium listed and large private companies, there has never been a better time than now to challenge how we embed these principles, along with compliance requirements, into the fabric of our organisations.

An emphasis has been placed on the board's requirement to influence and have oversight of corporate culture. A key component of a strong culture is that everyone embodies the company values, demonstrating them through day-to-day behaviours and actions. We need to ensure as part of this that we weave in governance and compliance as integral components.

The benefits of taking a proactive role in bringing clarity of voice to governance and compliance are:

  1. it helps them become accessible, relatable and easier to implement 2. we support the board's requirement to influence culture 3. it's rewarding to tap into our creative side and collaborate with others 4. we raise our profile to a wider internal audience 5. we contribute towards building trust and confidence, which in turn supports society 6. it helps prevent failures, avoiding the detrimental ramifications for many stakeholders 7. it demonstrates a consistent commitment, helping mitigate reputational and financial fallout if a failure were to occur.

    The Embedding Process

    Put simply, to embed governance and compliance, we need to...

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