By Amanda Lima
Efficient companies require efficient management. The concept of Corporate Governance was born in this context, as it involves the mechanisms of direction, monitoring and incentives between shareholders, the board of directors, the executive board, supervisory and control bodies and other parties involved. Good corporate governance practices convert basic principles into objective recommendations, aligning interests with the purpose of preserving and optimizing the long-term economic value of the organization, facilitating its access to resources and contributing to the quality of the organization's management, its longevity and profitability.
In light of Corporate Governance, the programs of Compliance, have a preventive nature, understood as a set of interdependent processes that contribute to the effectiveness of the governance system and that permeate the organization, guiding the initiatives and actions of governance agents in the performance of their functions. The programs of Compliance They are composed of sets of elements that serve three basic purposes: preventing, detecting and responding.
To this end, it is necessary to recognize the risks inherent to the activities of each business sector, as well as the creation of efficient policies and procedures, creation of the following tools:
| Risk Matrix | Document with all the risks inherent to the activity, classifying the classes of Corporate Governance agents involved in degrees of attention, among other basic requirements of Compliance and Corporate Governance. |
| Compliance Committee | Independent internal body responsible for creating practices and ensuring the implementation of the program Compliance, among other functions. |
| code of Conduct | It is the document responsible for linking all Corporate Governance agents and other employees of the Company to ethical procedures and practices. Compliance. |
| Trainings | Training is essential to the implementation and maintenance of the training program. Compliance, being responsible for communicating and disseminating the ethical practices and conduct valued by the Company. |
| Whistleblower Channel | Another important step is the creation of an independent and effective means of communication, which ensures anonymity and protects the whistleblower from the corporate hierarchy. |
| Driving mechanisms in violations | For the completion of the efficient cycle of the program Compliance it is necessary to create procedures for handling cases of violation of the program Compliance, such procedures must be developed in an interdisciplinary and transparent manner. |
It is important to emphasize that the creation of a program of Compliance A successful compliance program must be conducted independently, impartially and customized to the sector and complexity of the company's activities. To this end, a specialized team of multidisciplinary professionals is necessary, capable of applying standards such as anti-corruption legislation and applicable regulations to the company's reality, aiming to develop corporate governance mechanisms focused on preventing and correcting practices that may cause financial and reputational damage. With the correct creation and application of such compliance programs, it will be possible to accurately predict the responsibility of its administrators.