The Importance Of Governance, Risk And Compliance

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Issues this event caused for PricewaterhouseCoopers

The Email Abuse article (www.spyequipmentguide.com) explains that “Email is an excellent communication tool and has revolutionized the way in which we communicate with each other. However, it can also waste a lot of precious time, especially in the workplace environment”. Most big companies including PWC have policies and procedures in place that outlines internet and email usage. As a rule, in the working environment, email should strictly be used for workplace communications. Unfortunately, email misuse can still happen and waste a lot of productive time and cause a range of issues for a business.

PWC utilize a strategy (Fig.2) called “Governance, Risk and Compliance” which helps the company clarify factors which directly influence internal management decisions, employee conformity to those decisions, and compliance with company policies and procedures, as well as external environmental factors which affect the business.

Fig.2 (www.iifdc.org,Governance, Risk and Compliance
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Paying particular attention to core values and how effectively they have been integrated by management.

3. Don't just print, practice what you preach.

The Code of Conduct or Ethics Code needs to be enforced, printing copies, posting them on the wall and on bulletin boards is not enough. Codes of conduct are a consequence of company missions, visions, strategies and values. Thoughtful and effective corporate codes provide guidance for making ethical business decisions.

Codes of conduct need to be actual living documents encouraged by managers and valued at the highest levels. Managers have to set an example for the type conduct they expect from others. Senior management needs to hold itself to the highest standards of conduct before it can demand similar integrity from those at lower levels.

4. Build a robust ethics

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