In recent times, institutional investors, policy makers and other market players have increasingly expressed their expectations towards companies they invest in to publicly articulate the strategic framework for long-term value creation and explicitly affirm that it has been reviewed by the board of directors.
Board of directors are also requested to describe the process implemented in order to verify the strategy of the company and help investors and other stakeholder understand their ability to address big changes in environment, customer behaviours, technology and others. But are boards ready to lead the change in integrating long term goals into strategic planning and decision-making processes? And how can internal auditors and risk managers cooperate and support integrated governance processes? The presentation will focus on best practices in corporate governance and board work aimed at enhancing the strategic function of the board of directors, the effectiveness of oversight on non-financial reporting, long term value creation of business models and related risk assessment and risk management issues. Data on the awareness and engagement of directors, and mainly non-executive directors, on ESG topics and related risks, KPIs and controls, will be presented, in order to help identify areas for an increased cooperation between board and internal auditors.
ECODA, EUROPEAN CONFEDERATION OF DIRECTORS’ ASSOCIATIONS
Non-executive director and ecoDa Board Member