MALTAWAY BOARD GOVERNANCE AND NON EXECUTIVE DIRECTOR (NED)
Even here in Malta and from Malta, this issue arises with relevant importance and validity, partly because of the high number of foreign companies present in every high-intensity Foreign Investments jurisdiction, in order to be compliant with international standards for tax purposes (see the case of dummy company and tax inversion), must have a board of directors with directors and NON EXECUTIVE DIRECTOR, residents in the jurisdiction where the company is domiciled.
All the above mentioned, is supporting and providing clear and convincing evidence that the foreign company is effectively managed from that place and with an adequate SUBSTANCE accordingly.
Furthermore having a NED with international experience in the BOARD, reinforce widely the diversity, independence and compliance requirements for a better Corporate Governance, Leadership and Business results
30+ years Board, Governance, Investment’s experience and practice for YOUR BOARD needs and solutions
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For Corporate Ethics you Can’t fill Boards’ meeting just with Compliance
At companies across the globe, the layers of compliance mechanisms are growing. At first blush this seems to make sense: Perhaps the most obviously straightforward method of preventing unethical or damaging behaviour is increasing the number of rules designed to curtail it. However, one of the more unsettling and unintended consequences of a singular focus on ethics-as-compliance is a checkbox mentality that gives the illusion of reducing risk without really doing so. Moreover, unless an organization is careful, a compliance-focused approach to eliminating unethical behaviour can stunt a company’s efforts to innovate and to take intelligent risks.
So what can a company do to excel ethically? Instead of focusing on the poor choices you want employees to avoid, focus on the positive virtues you want them to exhibit.
Share how MALTAway think different on https://albertobalatti.wordpress.com/ as well