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Governance - Risk - Compliance Overview: The Solution The U-Gov™ solution underpins organizational Governance and Management processes and provides:
The Paradigm Is Risk-Based, People-Focused and induces Organizational Learning. It engenders Transparency & Accountability, yet is Non-Intrusive.It is not another process, another layer of management activity or another layer of reporting. Rather, it underpins and supports in a one-stop manner an organization's governance and management processes; inclusive of risk assessment & management, legal & regulatory compliance, control review, business assurance, sharing of knowledge, etc... Read More. Its Role
It is a way of managing normal hierachical, matrix and project reporting, whilst at the same time managing risk, performance, compliance, assurance and incident resolution; all using a unified and individualised reporting interface. .. Read More. The Issues: Stakeholder ...the more we look, the more evidence we find of inadequate oversight.Joe Lieberman, Chairman of the USA Senate Governmental Affairs committee, on the role of Enron's Board of Directors in its collapse... Read More. Executive Executives are expected to be miracle workers, people who make something out of nothing, make impossible circumstances tenable and good circumstances outstanding. And when everything goes wrong, as it often does, they are there to be blamed, take the rap - prison term... Read More.Regulatory With Globalism has come regulation. Our borders no longer protect us or provide a barrier to individuals, organisations and countries that might seek to exploit us. Regulation is our protection, welcomed by those that benefit, abhorred by those that bear the brunt of its burden and cost - business... Read More.Operational Increasing workloads are the norm, but what many organizations fail to appreciate is that:System "health checks" are the first casualty of a reduction in people resource. Operational people don't need more systems, they just want a little more space and time to complete their work... Read More. Cost The British Chamber of Commerce estimates the cost to British Business of new regulations since 1998 to be over £40 billion; the United Kingdom's Better Regulation Task Force estimate of the cost of regulation to be £30 billion a year.In 2004, the cost (all jurisdictions) of regulation and supervision to the HSBC group (Annual Report -2004) alone was reported to be US$500 million... Read More. The Framework: Governance "The process whereby societies or organizations make important decisions, determine whom they involve and how they render account."This process - the taking of decisions and rendering of account, typically rests on a system or framework... Read More. Risk Management "The systematic application of management processes, procedures and practices to the tasks of communicating, establishing the context, identifying, analysing, evaluating, treating, monitoring and reviewing risk."Risk - that which could prevent, degrade, delay or enhance the achievement of an organisation's business and strategic objectives (AS/NZS 4360:2004)... Read More. Legal & Regulatory With a little thought and planning, legal & regulatory compliance can be leveraged from being an overhead (time, effort & cost) into a productive process; by structuring it in such a way that it becomes part of the organization's ongoing administrative and performance reporting... Read More.Internal Control At every point of the internal control process, the U-Gov™ paradigm provides the people responsible for management (control) activities with the relevant context for their actions, decision making and reporting... Read More.Business Assurance Whereas once Assurance was synonymous with External Audit, now it embraces all aspects of organizational performance; from conformance to policy & procedures, statute, regulation, etc, through to investor expectations.Boards of Directors/Trustees, CEOs and CFOs, Responsible Persons, etc, all require assurance that their expectations of performance are being met by those responsible...Read More. Knowledge The knowledge that an organization has of itself, that for the most part remains hidden from those ultimately accountable; hidden because the questions that would make it available are not asked and/or because the responses to these questions are not made available (for whatever reason - self interest, power, fear, etc.) to those accountable... Read More.Making It Work: Embedding Process If risk management, legal & regulatory compliance, control and assurance framework or frameworks are not integrated into organizational process, management invariably views them as additional and unnecessary layers of bureaucracy; mainly because the risk management process (SWOT) is implicit in their day-to-day activities, even if largely an unconscious activity...Read More.Enabling Software U-Gov™'s enabling software is both web-based and client-server in architecture. It is typically deployed over an organization's LANs and WANs for its power-users - compliance managers, risk managers, business assurance managers, internal auditors and senior management; but through a web-browser interface for those users that are required to respond to self-assessment and compliance questionnaires, audit surveys, or signoff on actions plan, etc...Read More. |
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Australia
Bircham-Global Pty Ltd New Zealand
Bircham-Global Ltd |