Supports business leaders to further understand their corporate governance responsibilities and improve their performance and governance standards.
Supports business leaders to further understand their corporate governance
As the business and regulatory landscape continues to evolve, organizations face unprecedented emerging and systemic risks – digitization, globalization, increased regulations and stepped up global enforcement – all of which are impacting the confidence level of risk oversight.
Business leaders are constantly challenged to balance the pursuit of corporate performance objectives while maintaining compliance with regulatory requirements. As a result, many organizations are seeking answers that will help them align corporate strategy and culture to protect financial and reputational assets, as well as enhance business value.
They recognize that, in both the short and long term, successful companies will be those that can manage risk, drive business performance and achieve regulatory compliance in an environment in which these outcomes must be managed strategically and with agility.
KPMG's Board Advisory Services (BAS) supports business leaders to further understand their corporate governance responsibilities and improve their performance and governance standards. We equip boards and C-level executives with the tools needed to tackle the key issues impacting their ability to drive strategy and governance.
BAS offers a selection of services across leadership and culture, strategy and performance, accountability and audit as well as stakeholder engagement that can be tailored to the specific requirements of boards, committees and other board-appointed governance bodies including board training, corporate governance structure reviews, corporate governance disclosure reviews, board performance evaluations and board assurance frameworks.
|Pillars of governance||Possible challenges faced by organizations||How KPMG can help|
|Leadership and strategy||
Business strategy not defined/articulated
Organizational capability does not support business strategy
Board structure not efficient or effective
Roles and responsibilities for boards/board committees/directors unclear
Family relationships inhibit decision making
Strategy development/planning processes
Board composition and structure
Board/board committees roles and responsibilities
Board/board committees selection/appointment process (including succession planning)
Board reporting (for example, through dashboards and aligning those to better practice and industry standards)
Owner managed business framework
New Boards: 100 day plans
Delegation of Authority framework
|Performance and monitoring||
Board/board committee/director performance is sub-optimal
Culture of board/board committees not open to receiving feedback for continuous improvement
Directors do not receive regular and/or relevant training
Performance evaluation framework for board/board committees/directors
Skill sets gap analysis at Board level to identify/establish relevant skills development programs
Director training (e.g. corporate governance obligations)
|Accountability and audit||
Key risks not identified and managed in an appropriate manner
Sources of assurance regarding risk management and internal controls not clearly understood
Group/subsidiary governance framework not defined
Material transactions (IPT/RPT) involving directors not captured/monitored
Board Assurance Framework
Governance framework for group and extended entity structures
Quality Assurance Reviews of the organization's Internal Audit function
|Communications with stakeholders||
Key stakeholders not engaged to provide views on material current/proposed activities
Key information not disseminated in a timely, relevant or accurate manner to stakeholders
Stakeholder identification and mapping to key priorities
Stakeholder engagement plans
Non-financial reporting frameworks (including performance indicators)