How much does your balance sheet really say about your organisation?
Over the past decade, there’s been a major shift in our understanding of what it means to be a well-run organisation. Financial metrics are no longer the only yardsticks of success. Today, there is a widespread expectation that you’ll also act with integrity to become a force for good.
We set out the key areas you should think about in our beyond the balance sheet guide. This is not an exhaustive list, but it will ultimately help you bring governance into focus and become a modern, well-led and accountable organisation.
The General Data Protection Regulation (GDPR) is here and has changed the way businesses store, manage and process personal data. It has been confirmed that the UK’s decision to leave the EU will not affect the commencement of the GDPR and so businesses need to have to be compliant now. To find out more visit our GDPR page.
It’s tempting to see the gender pay gap regulations as a threat, but it will make better commercial sense if you view them as an opportunity for change. The media, the public and your employees have a growing expectation that you will publish your gender pay gap figures. Discover how.
The roll out of the Modern slavery act was a wake-up call that forced labour and servitude still happen. In a tightening regulatory environment, outdated thinking about slavery will leave you and your organisation exposed. Find out the surprising ways you could be at risk.
Under the Bribery Act 2010, it’s a crime to give or receive a bribe in the UK or overseas. You must not overlook the long-term damage an offence can inflict. Find out how to protect your organisation at home and in countries where cash sweeteners are the norm.
The government is committed to stamping out tax evasion. Tough new rules mean you don’t have to be directly involved in tax evasion or even to know it takes place to face the risk of a criminal charge. Learn how the actions of your employees, services providers and joint venture partners could put you on the hook.
A worried worker is often the first sign that something has gone wrong at your organisation. Listening to their concerns makes good business sense: it helps you tackle unknown risks before they inflict further reputational or financial damage. Learn how you can embed an effective whistleblowing policy.
How efficient is your accounts payable department? You may not have spent much time thinking about this question, or the answer. But new rules mean your payment processes will be under more scrutiny than ever before. Get to grips with the legislation and the steps you need to take to comply.
Globalisation offers big benefits for UK organisations, but it also gives criminals at home and abroad new opportunities to clean their dirty cash. The government has taken decisive action to close in on those who launder money on domestic shores. Find out the role you must play to mitigate the threat.
The world is changing. Your organisation needs to adapt too. Today, society, the media and your workers have a clear expectation that your organisation will embed a diverse and inclusive culture that promotes fresh perspectives and allows everyone to reach their potential. Understand your obligations here.
The complexities of the consumer sector are constantly changing against a challenging market backdrop. It is now more important than ever for boards to consider a wider risk universe. Read more here about how the sector should be responding.
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