UK Corporate Governance Code reform
As the UK prepares for the updated UK Corporate Governance Code, organisations will need to develop effective approaches to risk management, internal controls and assurance.
An increase in the scope and geographical reach of ethical and compliance risk in recent years means organisations must now be better prepared than ever before to not only understand their exposure to compliance risk, but take forthright action to mediate its effects.
Senior executives and boards have therefore been quick to recognise that failing to keep up with the pace and scale of change in the regulatory and ethical compliance landscape could cause them to fall behind their competition or, even worse, expose them to increased regulatory and reputational scrutiny.
At PwC, we believe that integrated compliance capabilities must now play a role in breaking down silos and helping companies to develop proactive and holistic compliance policy frameworks. These actions ensure a more effective, efficient and sustainable compliance model, helping organisations to understand and address their compliance risks both today and in the future.
When to act
- You face regulatory change or increased oversight within your industry
- There is a sense that your current compliance activities are insufficient
- Cases of compliance failures have been witnessed among peer companies
- You are pursuing a new direction or change of management/priorities
- Regular compliance issues have been raised among your staff
- There is confusion or disinterest among staff in your existing compliance setup
What good looks like
- Integrated compliance frameworks built on fundamental components that collectively deliver an effective and efficient compliance organisation and culture
- Compliance programmes that don't lose sight of the big picture and fully embrace a holistic and integrated approach to deliver a true cultural shift
- Leaner and less complicated programmes that deliver the desired effect through their simplicity and clarity
- Compliance strategy and action that is aligned to business' objectives and goals
- Consistent and clear communication that successfully conveys the purpose and objectives of the compliance programme
How we can help
- Programme maturity assessment
- Compliance programme remediation
- Compliance framework design and implementation
- Compliance risk and control monitoring
- Culture and behaviour assessment
- Policy governance
- Third-party compliance programme development
- Regulatory health checks
- Regulatory deep dives
Latest insights
3 results
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