Governance, Regulatory and Compliance continues to be complex business challenge. As new laws and regulations are introduced, their requirements challenge boards to greater levels of transparency, objectivity and professionalism. Increased accountability and potential exposure to liability means directors need to ensure that corporate governance standards are adhered to and robust compliance management systems are in place.
KPMG member firms can assist directors and management to identify the applicable laws and regulations to better understand the regulatory environment. Our approach combines an analysis of the legal framework together with an assessment of the systems and processes which can help to ensure compliance and sound corporate governance.
Our approach is to support our member firms’ clients in meeting the Governance, Regulatory and Compliance challenge by offering the following services:
- Board training, i.e. director responsibilities, obligations and ‘better practice’ governance requirements
- Governance framework design
- Board and Audit Committee assessments
- Regulatory code impact diagnostic
- Internal Control
Our firms’ multidisciplinary teams have advised clients on how best to meet the corporate governance, regulatory and compliance challenge. Our professionals have in-depth knowledge of corporate governance developments both locally and internationally. We combine the process and system benchmarking knowledge and experience with organizational knowledge.
There is a strong business case for corporate governance and regulatory compliance. Sound corporate governance practices can protect directors from potential personal liability and protect the company from reputational harm.
There are financial penalties for non-compliance with certain laws and regulations. Robust regulatory and compliance structures can help to ensure companies are not subject to potential penalties.