And what is the role of Corporate Governance?
Posted: Tue Jan 28, 2025 8:41 am
According to the IBGC (Brazilian Institute of Corporate Governance), an effective Compliance system must address the following principles:
Coordinate reporting channels;
Discuss the degree of exposure and evolution of compliance risks;
Raise awareness within the organization about adherence to ethical principles, rules of conduct and applicable obligations, leading the process of disseminating a culture of compliance;
Perform integrated monitoring of compliance activities;
Collaborate in the development of a training plan for all stakeholder employees;
Coordinate communication initiatives aimed at disseminating the topic throughout the organization;
Coordinate the implementation of controls and tests to verify adherence to the organization's policies and procedures;
Collaborate in the process of investigating irregularities, with broad access to documents and information from different areas of the organization, in accordance with the policy approved by the board of directors;
Suggest, together with the conduct committee, the application of sanctions provided for in the consequences policy;
Participate in conduct committee meetings;
Ensure that the sanctions determined are applied.
Furthermore, according to the IBGC, non-profit organizations facebook data seek to contribute to a better and fairer society. According to the ( Guide to Best Governance Practices for Business Foundations and Institutes ), “improving governance is an ongoing effort that, in Brazil, did not end with the OSCIP law.” It is necessary to expand “good governance practices to all civil society organizations, thus establishing the foundations for what could be the third sector’s self-regulation system.” Also according to the guide, “its main agents – whether they are funders or project executors – can and should adopt practices that serve as an example for others, reinforcing the sector’s legitimacy.”
Corporate governance can be defined as a set of processes, customs, conduct and policies through which an institution is managed and monitored and aims to avoid any privileges and/or illicit practices within the work environment.
The practices applied in this context involving the relationships between the institution and its partners, investors and/or donors.
The implementation of a governance management model should be interpreted as a business opportunity and competitive advantage when carrying out its activities in accordance with the applicable rules. Below we can highlight the following benefits:
For compliance management to function properly – both at a functional and administrative level – there are some basic principles of corporate governance that must be applied to the third sector.
Equity: the concept of equity is related to the equal treatment of all partners and stakeholders in the business.
Transparency: a company's management must be based on transparency, providing access to relevant information, from government agencies to the end customer.
Accountability: is the justification and disclosure of data that occurs when the institution's managers reveal the results of their actions, omissions and decision-making.
Corporate responsibility: this is the concept of Compliance applied in practice, with the implementation of good management practices, which follow legal standards, ethical principles and the direction idealized by the organization's purposes.
Coordinate reporting channels;
Discuss the degree of exposure and evolution of compliance risks;
Raise awareness within the organization about adherence to ethical principles, rules of conduct and applicable obligations, leading the process of disseminating a culture of compliance;
Perform integrated monitoring of compliance activities;
Collaborate in the development of a training plan for all stakeholder employees;
Coordinate communication initiatives aimed at disseminating the topic throughout the organization;
Coordinate the implementation of controls and tests to verify adherence to the organization's policies and procedures;
Collaborate in the process of investigating irregularities, with broad access to documents and information from different areas of the organization, in accordance with the policy approved by the board of directors;
Suggest, together with the conduct committee, the application of sanctions provided for in the consequences policy;
Participate in conduct committee meetings;
Ensure that the sanctions determined are applied.
Furthermore, according to the IBGC, non-profit organizations facebook data seek to contribute to a better and fairer society. According to the ( Guide to Best Governance Practices for Business Foundations and Institutes ), “improving governance is an ongoing effort that, in Brazil, did not end with the OSCIP law.” It is necessary to expand “good governance practices to all civil society organizations, thus establishing the foundations for what could be the third sector’s self-regulation system.” Also according to the guide, “its main agents – whether they are funders or project executors – can and should adopt practices that serve as an example for others, reinforcing the sector’s legitimacy.”
Corporate governance can be defined as a set of processes, customs, conduct and policies through which an institution is managed and monitored and aims to avoid any privileges and/or illicit practices within the work environment.
The practices applied in this context involving the relationships between the institution and its partners, investors and/or donors.
The implementation of a governance management model should be interpreted as a business opportunity and competitive advantage when carrying out its activities in accordance with the applicable rules. Below we can highlight the following benefits:
For compliance management to function properly – both at a functional and administrative level – there are some basic principles of corporate governance that must be applied to the third sector.
Equity: the concept of equity is related to the equal treatment of all partners and stakeholders in the business.
Transparency: a company's management must be based on transparency, providing access to relevant information, from government agencies to the end customer.
Accountability: is the justification and disclosure of data that occurs when the institution's managers reveal the results of their actions, omissions and decision-making.
Corporate responsibility: this is the concept of Compliance applied in practice, with the implementation of good management practices, which follow legal standards, ethical principles and the direction idealized by the organization's purposes.