Topical insights for the Board.
Disruption can affect audit committees in different ways. In some cases - for example, cyber security - audit committees may need to become more knowledgeable and more vigilant in their oversight due to the rapid, ongoing evolution of the field. In other areas, such as oversight of reporting and compliance, it is their own approaches and processes that are changing, as complex standards up the regulatory ante.
In the three short documents we look at some of the issues arising from disruptive trends in technology, geopolitics and regulation.
Data is changing the business landscape with many disruptive technologies.
Senior executives must understand the disruptive threats that data and analytics are having on their business model, and leverage them to drive a competitive advantage for their organization.
Innovation will remain a critical differentiator for many industries as organizations compete to develop the next generation of products and services to add economic value.
As Singapore continues its economic transformation becoming more competitive in the global market, the pressure on the workforce to ‘glocalise’ intensifies. Along with high employment, an ageing workforce and shortages of key skills, talent management is the key to organization survival and differentiation.
Transforming disruptive forces into sustainable advantage requires an innovative approach, one that’s both manageable and measurable.
Related Board issues impacted by transformation programs include strategy, talent, risk and performance.
Five seasoned directors and business leaders from around the globe share their thoughts and views on corporate culture
Given the importance of maintaining a healthy corporate culture in a challenging business and risk environment, the Audit Committee Institute interviewed directors and subject matter experts from around the world to gather their perspectives on the board’s role in helping to reinforce, assess, and oversee the corporation’s culture.
In this edition of Global Boardroom Insights, we share their insights, which we hope will help you to facilitate robust boardroom discussions about the challenges and opportunities related to corporate culture oversight in your own organizations. While their individual views offer varying perspectives, some universal takeaways emerged from the discussions that should be worthwhile for all boards to consider. By making culture a regular item on the board agenda and asking the right questions, directors can help to ensure that culture supports business strategy.
Fraud is an elusive and cunning enemy that requires a risk-aware culture to keep it abeyance. When every employee and every business partner are vigilant and do business with integrity, fraud will subside. It is an objective worth aiming for.
This report takes a look at the people who commit fraud, the sorts of fraud they commit and the manner in which the frauds are detected.
Ethics and integrity are fundamental to an effective governance framework.
Questions and factors that Boards of directors and audit committees could consider while looking to reassure themselves about their organizations’ ethical behavior and behavioral indicators are presented in this publication.
Staying on the right side of consumer privacy, KPMG asked almost 7,000 consumers in 24 countries a series of questions to understand in what circumstances they felt comfortable or uneasy about the use of their personal data – to understand what is considered ‘crossing the line’.
This edition of KPMG's Global Boardroom Insights looks at key elements of effective cyber risk oversight and governance. Over a series of six interviews with global directors and executives, The Cyber security challenge explores the following:
Investors, governments and regulators are increasingly challenging Board members to actively demonstrate diligence in this area. Regulators expect personal information to be protected and systems to be resilient to both accidents and deliberate attacks.
KPMG surveyed more than 1,000 directors and senior executives internationally to better understand how Boards are helping their companies calibrate strategy and risk. Our survey explored where Boards are deepening their engagement and where the biggest challenges and concerns exist.
Our research suggests that while many Boards are clearly stepping up their game, significant challenges remain.
A report by the WomenCorporateDirectors (WCD) Foundation's Thought Leadership Commission and the KPMG Board Leadership Center, Seeing Far and Seeing Wide: Moving Toward A visionary Board, explores what it takes to build a visionary Board of directors. Discussing the importance of diversity to the long term success, the report argues that a leadership Board composed of members with a range of expertise, industry, gender, geography and age are better positioned to promote future-focused thinking and help ensure that management is set up for success.
Boards are dedicating more time to strategy: undertaking a more active role in the shaping, development and ongoing testing of strategic plans. This issue presents the primary drivers, value, questions the Board should raise, and actions to take.
Crisis readiness has taken on increased importance and urgency for Boards and management teams. The list of potential crises that companies can find themselves facing today looms large - from major product recalls, data breaches, and health scares to natural disasters, terrorist events, and ailing business leaders, to name just a few. And thanks to social media, the speed with which news of a crisis (accurate or inaccurate) can spread has been reduced to mere minutes, making the company’s ability to respond quickly and effectively to a crisis increasingly critical.
As postmortem media reviews of numerous crises have demonstrated, when a company’s response is deemed to have fallen short, a question that is always asked is, “Where was the Board?” This is particularly true in cases where a crisis was preventable, early warning signs were ignored, or the crisis was attributable to the company’s culture or tone at the top. The message for Boards: Crisis prevention is integral to crisis readiness and response.
“Family is about love; business is about making money.” Yet, the two collide in a new report from Women Corporate Directors and KPMG, which explores how effective Boards can position family-owned businesses for ongoing success.
The report includes insights, lessons learned, and practical governance recommendations, and shares views from owners, Board members, executives, and advisors with decades of experience in family business across five continents.
Increasing regulatory complexity and scrutiny by relevant authorities continues to make regulatory compliance a major issue in the Boardroom and C-suite. Considerations and actions for the Boards are presented in this issue.
A company’s use of third parties does not diminish the responsibility of its Board. The potential risks incurred by third parties need to be weighed against the potential benefits and consequences for the organization. Questions that organizations need to satisfy themselves, best practices for enabling third party governance with technology and actions for the Board are presented.