If your organization needs to develop or strengthen corporate governance, we can help you.

We take as a reference the OECD practices, the Coso Report, ISO 38500 and the applicable regulations in each country.

Whether you need to strengthen your information systems, internal control or risk management, we can assist you. To do so, we apply the country's legal regulations and international best practices.

Within this service is specially developed support for the establishment of an internal control and risk management system in family businesses and succession.

It includes a process of support and accompaniment until the necessary cultural change is achieved.

The work strategy includes multidisciplinary work for: workshops and information activities, diagnosis and analysis, design of cost-effective measures, implementation support and definition of roles (audit, internal control, etc.).

Meycor GRC software supports the service and provides measurable results over time.

Principles 

The concept of Good Corporate Governance has been developed through different ways, and one of the main promoters of the subject has been the OECD, which has built the principles, allowing its fundamental pillars to be established:

  • Shareholders' rights.
  • The equitable treatment of shareholders.
  • The role of third party resource providers.
  • Access to and transparency of information.
  • The responsibilities of the Board of Directors. 

Objectives 

  • Attract capital.
  • Ensure the proper management and administration of companies, especially those that issue securities in the public securities market.
  • Protect the rights of investors and other stakeholders.
  • Promote confidence in the financial markets.
  • Promote competitiveness.
  • Strengthen administrative practices, especially in the areas of Accountability, Transparency and Disclosure of Information.

Our contribution in this area is based on the aspects of Internal Control and Enterprise Risk Management. Both points are covered in the integrated Enterprise Risk Management framework published in 2004 by COSO.

COSO

COSO (Committee of Sponsoring Organizations of the Treadway Commission) is an organization dedicated to improving the quality of financial reporting, including business ethics, effective internal controls and good corporate governance (for more information visit http://www.coso.org).

Internal Control 

Internal Control is a process effected by the board of directors, management and staff sectors of an entity, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
  • Effectiveness and efficiency of operations.
  • Reliability of financial reporting.
  • Compliance with applicable laws and regulations.

Enterprise Risk Management

It is a process carried out by the board of directors, management and appropriate personnel, applied to the establishment of an organization-wide strategy designed to identify events that could potentially affect the entity, and manage risks in accordance with the risk appetite that has been adopted, to provide reasonable assurance regarding the achievement of the entity's objectives.
 
COSO created a framework for ERM that defines essential components, suggests a common language and provides clear direction and guidance for Enterprise Risk Management.

Training

Workshop on Implementation and Systematization of an Internal Control Model.
  • Workshop on the use of Meycor Coso at user level.
  • Seminar on Introduction to Enterprise Risk Management.
  • Seminar on Methodology of Implementation of integrated internal control systems.
  • Workshop on Internal Control Awareness at management levels.
  • Workshop on Implementation and Systematization of an Internal Control Model.

Consulting

  • Internal control reviews using the COSO report structure.