High-performing companies are realizing that good governance drives environmental and social responsibility. As organizations continue to adapt to an ever-changing landscape, boards and management must prepare to address the new dynamics affecting their oversight roles and the governance of their organizations. Boards have responsibilities to steer their organizations towards profitability while prioritizing long-term thinking, resilience and impact on people and planet.
While standards and regulations addressing specific areas of responsibility continue to evolve, corporate bodies must understand the applicable legal framework and adopt the required means for a proper implementation, able to create an ethical and trustworthy internal environment, as well as solid partnerships. Governance is no longer merely a legal exercise in legal compliance, but a framework that sets the direction in which an organization will move and how it will do so, thus becoming a differentiator for that company in the market.
KPMG in Romania & Moldova understands that robust governance frameworks, enhanced by well-defined policies and processes (such as Code of conduct, policy against anti-competitive practices or for the protection of whistleblowers), when implemented in an integrated way, exercised transparently, and across all functions of the business, not only enhance efficiency, performance and productivity, but increasingly and more effectively reduce risk.
Good governance integrates ESG aspects into a successful business strategy, by ensuring unitary implementation throughout the organization and an adequate monitoring in the value chain. How the company is run represents the foundation of strong ESG principles in the absence of which operations could be at risk. By constantly updating and reviewing the company’s sustainability policies and procedures, KPMG in Romania & Moldova professionals support the improvement of the decision-making process and performance increase throughout the entire organization.
