Governance, Risk and Compliance
Through our deep understanding of the issues that concern our clients, the Governance, Risk and Compliance services we provide help owners, members of the board of directors and management to manage their compliance requirements but also to optimise the processes followed by the businesses, irrespective of their size.
A changing world
Risk management and the implementation of strong corporate governance is now an important aspect for businesses.
Although in most cases, compliance is required by Law or by the Regulatory Authorities, there is an increasing number of companies that choose to follow these practices as part of an Intergrated business strategy that identifies and manages business risk, timely and effectively.
How we can help you
We offer a range of services designed to support business management in maintaining and strengthening strong governance, adequate internal control environment and effective risk management by integrating transparency and accountability into their practices.
Internal Audit
Internal audit is an important element in the structure of corporate governance and adds value through independent assurance by providing valuable information to boards and senior management.
We offer complete services and practical solutions in the implementation of these practices and we can provide you with:
- design of internal control procedures
- complete outsourcing of internal control procedures
- partial outsourcing (“co-sourcing”) of services, collaborating with existing teams
- case by case support of internal groups
- evaluation of internal procedures and reporting to management
- training and supervision
- high level evaluations of existing procedures and policies
- tips for improving the internal process environment
- reports on the effectiveness of internal procedures, providing assurance to the mandated bodies on the effectiveness of governance
- reasonable assurance reports to third parties on the effectiveness of internal procedures
- regulatory compliance (including advice and assistance in implementing the Sarbanes – Oxley Act (SOX)
Compliance – Corporate Governance
Corporate governance is more than just meeting regulations or complying with regulatory requirements.
Creating an effective corporate governance practices enables businesses to operate more efficiently and achieve greater benefits.
We work with Boards of Directors and senior executives to advise them on identifying weaknesses in corporate governance rules and suggest improvements.
Our services are tailored to specific needs and we can:
- design together with the management appropriate structures and corporate governance policies, according to the size and resources of the business.
- conduct extensive reviews of the existing governance framework, administrative structure and internal policies.
- train board members to help clarify roles and responsibilities and support the best performance of the Board.
- examine the role of the internal audit committee and its effectiveness.
In this context, we can technically support businesses that are subject to Law 4706/2020 regarding corporate governance in public limited companies with shares or other securities listed on a regulated market in Greece.
Compliance – General Data Protection Regulation (GDPR)
The European General Data Protection Regulation (GDPR) came into full effect on 25 May 2018. Designed to increase protection of individuals’ rights and freedoms, GDPR has strengthened privacy rules, thus increasing the businesses’ privacy obligations. Stakes are high as administrative fines can reach Euro 20 million or 4% of an organisation’s global turnover (whichever is greater), but the true cost in the case of a severe data breach is the damage to reputation and potential claims.
With GDPR affecting every business and organisation that processes personal data, we can help:
- inform and raise awareness among top management on what GDPR requires and what the key risks for their particular business are
- assemble a multi-discipline team to run the project ensuring risk, legal and IT are included
- identify and record the data processing activities
- run a gap analysis and compliance plan to identify weaknesses
- implement the changes in policies, procedures, notices, legal, IT
- design an Incident Response Plan
- assess the impact to data privacy, when making important business decisions
- roll out GDPR training to all staff
- establish and maintain a governance-driven culture that will empower people to actively protect their business
Business Process Optimization
Many businesses nail down detailed processes the first time and continue to use it for a long time after. Processes should always function at their peak efficiency as it has a direct impact on the productivity of employees who use these processes. In today’s competitive business landscape, organizations must ensure that they not only document their processes adequately but dedicate time and resources to analysing and improving their processes.
We can help businesses and organisations:
- eliminate redundancies
- streamline workflows
- improve communications
The benefits
The Governance, Risk and Compliance services we provide ensure:
- compliance documentation
- smooth daily operation of the business
- full utilisation of existing structures and procedures
- full utilisation of existing staff
- process optimisation
Why trust us
- We are highly specialised in specific industries such as shipping, tourism and media.
- Our experienced professionals (Partners and Managers) have personal involvement in the projects.
- We apply recognised methodologies and best practices.
- Our procedures and results are presented in deliverables of exceptional informational value.
- We have a deep understanding of the issues and we are able to time the compliance projects so that they are completed on time and with the pre-determined commitment of your staff, which does not lead to pending open work.
Governance, Risk and Compliance Brochure
Pinelopi Kassani, BA MA FCA CPA(GR) Governance, Risk and Compliance Partner