Good corporate governance needs clear KPIs
Compliance violations reduce trust and sometimes cause serious economic damage. Help is on its way – not from a software update, but from a compliance management system that uses hard key figures.21 Jan 2018 Eduard Heilmayr
A new study by the Institute for Compliance and Corporate Governance (ICC) at the University of Applied Sciences Cologne (RFH) comes to the following conclusion: “There is room for improvement on the whole.” The ICC has developed its own index for its studies: the CoBI (compliance on board index). The starting point is a scientifically sound approach in which a company’s self-portrayal on the topic of compliance is systematically evaluated and optimization potential is pointed out. The goal is reliable benchmarking, which in turn should help identify and exploit compliance potential.
The evaluations initially focused on DAX 30 companies, as their capital market orientation requires increased transparency. Even DAX-30 leaders, however, show only a moderate level of compliance. The average overall score of 42% still shows significant room for improvement. A few companies have a lot of catching up to do (20%), at least in terms of reporting, with the front-runner hardly reaching 62%. Deficits are particularly evident in the presentation of resources and staffing.
Compliance management systems can assist corporate compliance officers, who may be held personally liable . They support compliance and structuring according to standards such as ISO 19600 (compliance management) or ISO 37001 (anti-corruption management). And they provide reliable, communicable key figures that can be used to demonstrate the contribution of compliance measures to business success.
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