Ethics

While every individual possesses an inherent understanding of the meaning of an ethical ecosystem, varying backgrounds, experiences, exposures and perceptions influence its implementation. To ensure consistency in understanding and implementation across all levels, organizations often establish frameworks and policies to shape processes, practices, interactions, and behaviors which govern the day-to-day operations of an organization.

In an ever-changing business environment, managing risk is an integral part of the corporate governance framework. With a plethora of laws and regulations surrounding the framework, ensuring proper and timely compliance requires identifying and understanding risks associated and establishing effective controls. It is observed that the importance of compliance is proportionate to the penal provisions attached to the regulations.