How do I manage a Compliance Management? – Rights, duties and liability of the managing director
- Compliance: a test of good corporate governance
- Ensure compliance-compliant sales processes
- The 7 most important duties of the managing director
- Limit the personal liability of the managing director
- Management duties in the crisis
- Owners, entrepreneurs, managing directors and managing directors, managing partners, authorized signatories and executives;
- Successors, shareholders, supervisory and administrative boards;
- Executives seeking a position as managing directors;
- Compliance officers and employees of compliance and legal departments.
Compliance-Management-System – Fines-reducing effect confirmed by BGH – German Federal Court of Justice judgment of 09.05.2017
The BGH judgment of 09.05.2017 explicitly confirms the penalty-reducing effect of a compliance-management-system and underlines the importance of an appropriate and effective organizational structure and procedure for dealing with risks. Typical compliance risks include anti-corruption, money laundering, terrorist financing, privacy and tax compliance.
More on the Guideline of the Federal Court of Justice judgment of May 9, 2017: Imposing of a fine on a side party in the tax penalty procedure: Reduction of the fine against a so-called authority person when installing a compliance system to avoid legal violations
Internal Audit – What is important
The Three Lines of Defense model: Internal audit as an integral part of the internal control system. Risk management, compliance and internal auditing are indispensable representatives of the board. When implementing an internal audit, organizational independence must be taken into account. The new revision standards DIIR No. 3 and the German IDW Standard 983 apply in practice for a secure internal audit organization.
The application of the DIIR and IDW standards is highly relevant for managing directors, board members and supervisory boards in the fulfillment of good corporate governance. With our seminar series Internal Audit – What is important to get the S & P Checks discharge of the management – regularity check, transparency register – Implementation of the new MLA, minimum requirements for corporate organization rules and accounting due diligence.
Current project reports from our current auditing activities can be found in the healthcare sector, risk management in companies and the compliance test for good corporate governance.