EQMS provides the perfect framework for managing Corporate Governance across your organisation. The responsibilities of the Board are under increasing scrutiny and, whether you are a public or private organisation, the role of Director carries a much greater burden than previously. This burden is significantly reduced with the automated controls offered by EQMS.
The Cadbury Committee (1992) outlined the requirements for good standards of Corporate Governance putting responsibility squarely on the shoulders of Directors for promoting accountability and efficiency within the corporate structure. The Board’s policies define business operations for the managers and employees of the corporation. And the Board is ultimately answerable to customers and shareholders for the successful implementation of policy.
Failings in Corporate Governance attract immediate attention, are always damaging and often catastrophic.
There is a long list of recent casualties; Arthur Andersons, BBC, Enron, Hollinger International, Skandia, Tyco International, Worldcom and many more have either disappeared or spent a huge amount of money and resource repairing a tattered reputation. The collapse of banks previously considered as too big to fail has sent shockwaves around the world, crippling weaker economies and forcing even the most robust into taking often drastic austerity measures.
Governments have attempted to force a more rigorous approach to management with an explosion in regulation and an increase in the power of regulatory authorities; The Sarbanes-Oxley Act of 2002 places significant reporting demands on US business; the newly formed Prudential Regulation Authority (PRA) will ensure the stability of UK financial services firms and be part of the Bank of England; the Financial Conduct Authority (FCA) is now the City's behavioural watchdog and the Bank of England has also gained direct supervision for the whole of the banking system through its powerful Financial Policy Committee (FPC), which can instruct the two new regulators.
Invariably, these problems would never have existed if good standards of Corporate Governance had been applied.
Today’s organisations need a mechanism for controlling and sharing policy with all stakeholders, it needs to systematically assess risk, identifying and implementing appropriate counter-measures and it needs to audit processes to identify failings and opportunities for improvement. EQMS provides you with a framework for this and the management information that monitors your performance in all these areas.
EQMS recommended for Corporate Governance
EQMS protects your business by encouraging and policing good standards of Corporate Governance and making these explicit throughout your organisation. EQMS applies controls, reduces risk and drives the resolution of any serious business issues.
Get the most from your EQMS System by combining your Corporate Governance framework with your Quality Management, Environmental Management and Health & Safety Systems in a single, unified and fully integrated EQMS Management System.
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