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 organisation's control environment should be seen as being among the most important aspects of any successful risk assurance strategy. Companies must develop strong safeguards that limit their exposure to risk, while simultaneously ensuring operational efficiency and delivering confidence to core stakeholders and the public.
Development of an in-depth understanding of the flow of data within your business, individual responsibilities in the management of risk and how your activities align to a wider appetite for risk and your long-term goals is integral to lasting corporate success and ensuring ongoing regulatory compliance. PwC can support you in this regard.
When to act
- Your business is experiencing significant growth and/or you've made significant acquisitions
- You are considering a possible listing or trade sale in the next 24 months
- Regulatory changes are forcing you to re-think your compliance processes
- Your risk appetite or risk environment has changed significantly
- You discover fraud has taken place in your business
- Your businesses processes seem inefficient or controls seem ineffective
- Your peers are able to obtain performance data (including their month end figures) faster than you
- Informed executive decision-making is impaired due to a lack of timely, reliable information
What good looks like
- Workable methodologies that drive practical solutions for your organisation
- Striking the right balance between controls and efficiency to enhance performance
- Developing a trusted business partnership, which grows stronger over time
How we can help
- Clear articulation of existing processes and controls within your business
- Assess and confirm compliance activities are aligned with risk appetite
- Get the best out of your staff through knowledge transfer and training
- Evaluate quality of information and how it flows through your business
- Facilitate positive change through aligned corporate structures, people, processes, systems and data
Latest insights
3 results
Global governance transformed
Transforming internal operations for optimised data quality at bp.
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