Communicating with the Board on Risk, Audit and Compliance
Every time the board of a company meets, discussing the key risks for the company is high on the agenda. Sometimes the discussion is an explicit agenda point or, every so often, it is part of a broader discussion on investment opportunities, geographical expansion, competitive actions and forecast numbers. Management and supervisory boards realize they have an important task at hand protecting the interests of shareholders or the broader stakeholder group depending on the governance model that is used.
Timely and Accurate Information
This means that boards are asking for timely and accurate information. There is no better place to get this than from the integrated GRC platform. That is why we at NASDAQ OMX have integrated Directors Desk with BWise. The integration allows corporate secretaries to select the correct and approved information in BWise reports and securely push them to Directors Desk. This means that corporate secretaries stay in continuous control of the information stream, and board members receive only reviewed and approved information. The information is actionable immediately, which allows direct follow-up and action tracking.
Governance in the Governance, Risk Management and Compliance solution actually has a concrete implementation. The three-letter acronym GRC finally has justified its first letter.