ComplianceOnline

Toll Free: +1-888-717-2436

Internal Corporate Governance Controls


Internal corporate governance controls (internal controls) play a vital role in ensuring the success of a business organization and preventing corporate fraud.

Internal control activities that ensure proper corporate governance include:

  • Monitoring by board
  • Internal audits and robust policies
  • Proper balance of power
  • Performance based remuneration
  • Monitoring by large shareholders and other stakeholders
Monitoring by board

The board should monitor the corporate governance of the company through continuous review of its internal structure. This ensures that there are clear lines of accountability for management throughout the company.

The board should also monitor and review:

  • corporate strategy
  • major plans of action
  • risk policy
  • annual budgets and business plans
  • corporate performance
  • major capital expenditures, acquisitions and divestitures
  • governance practices and changes
  • selection, compensation and succession planning of executives
  • key executive and board remuneration

Internal audits and robust policies


Regular internal audits have to be carried out by auditors employed by the organization in order to assess the health of governance processes, operational health and financial reporting.

Robust internal control policies should also be implemented to ensure that the company lives up to its obligations to investors, stakeholders, employees, the environment, the government and the public at large.

Proper balance of power


A separation of powers and responsibilities between management groups ensures that there’s a proper system of checks and balances in place, with one group implementing policies and another ensuring that these are implemented and functioning in the right manner.

Performance based remuneration


Executive pay, a contentious topic following the 2007-08 financial crisis, is expected to be linked to performance in order to ensure that management is rewarded for operating the company keeping in mind the rights of investors and other stakeholders.

Monitoring by large shareholders and other stakeholders


Individuals and institutions that have large shareholdings (and financial institutions such as banks who are creditors) have the right to monitor the performance of the management, acting as an effective internal control measure.

ComplianceOnline Training on Corporate Governance


Internal Control and Sarbanes-Oxley Section 404
The webinar provides an in-depth look at Section 404 and the COSO Guidance used by most organizations for compliance.

Converging Ethics, Governance, and Culture
This webinar will explore the importance for converging corporate ethics, governance, and culture as an essential safeguard to assure organizational performance is legal, ethical, and sustainable.

Foreign Corrupt Practices Act (FCPA) Webinar
In this Foreign Corrupt Practices Act (FCPA) webinar training understand the prohibited and exempted actions as per FCAP act, how to find the non compliance issues and how to implement FCPA compliance policies and procedures in your organization.

Preparing for the UK Bribery Act
This training on UK Bribery Act will help you understand its requirements and how it will impact your organization. Learn how to identify areas of risk, proactively mitigate them to avoid significant fines and loss of reputation.

The UN Convention Against Corruption and other international anti-corruption efforts
This webinar will discuss various international efforts to fight corruption and potential pitfalls that US businesses must be aware of when conducting overseas business.

Foreign Corrupt Practices Act - How Your Institution Can Comply
This webinar will discuss the FCPA and potential pitfalls that US businesses must be aware of when conducting overseas business.

Constructing an Effective “Whistleblower” System
This webinar will explore how you can enhance effectiveness of current Whistleblower systems in light of the new Dodd-Frank Act and the preceding Sarbanes-Oxley Act.

The SEC’s New Whistleblower Rules: Implications for your Company’s Compliance and Fraud Program
This webinar on SEC's revised Whistleblower Rules will outline key changes and focus on the effects these new rules will have on your organization's internal compliance and fraud investigations.

Internal Control and Sarbanes-Oxley Section 404
The webinar provides an in-depth look at Section 404 and the COSO Guidance used by most organizations for compliance.

The Fundamentals of (Corporate) Fraud
This webinar explores corporate fraud, fraud risk, and some of the common schemes, scams, and shams that threaten an organization's reputation and performance.

The Fundamentals of Internal Auditing
This webinar on Fundamentals of Internal Auditing training will discuss the differences between external and internal auditing and provide guidance on how to design and operate an effective internal auditing activity.

Governance, Risk & Compliance: Developing a holistic approach to governance
This presentation will review the current state of maturity models and prepare you with a roadmap for successfully enhancing your current process or building a strategic plan for GRC excellence.

Ethics in Your Organization
This webinar will examine trends and requirements for good corporate governance and social responsibility.

Auditing your Compliance and Ethics program
This Webinar will show you how to audit your compliance and ethics program by evaluating the design and operating effectiveness.

Top