Tricor Roots Newsletter July 2013 · 3/7/2016 · Welcome to the July 2013 edition of Tricor Roots...
Transcript of Tricor Roots Newsletter July 2013 · 3/7/2016 · Welcome to the July 2013 edition of Tricor Roots...
Welcome to the July 2013 edition of Tricor Roots InTouch. This Newsletter is aimed at keeping our Clients, Partners & Associates updated on what is happening in the world of Enterprise Governance.
In this month’s edition, we look at one of the key elements of Risk Management – having a structured Incident Reporting process as a feedback mechanism on risk occurrence and impact. The key questions to be asked is whether
1. The need for Incident Reporting
Incident reports are one of the most important forms of documentation for a corporation to employ in their
day to day operations for a multitude of reasons. Whether reporting an instance of employee injury, property
damage, improper conduct, security breach, fraud or other reasons, it is increasingly important for a
corporation to keep an effective Incident reporting process. Some of the key benefits include:
a. Provide valuable feedback to risk assessments. One of the primary challenges is that risks may be assessed on an overly optimistic basis. Having effective Incident reporting enables risks to be objectively tracked for occurrence and impact.
b. Avoiding unnecessary fines and claims where there is appropriate documentation in place, along with mitigation plans. This is particularly important if incident reporting is regulated, such as in the case of Medical Care providers.
MALAYSIAJuly 2013
Tricor Roots InTouch Newsletter
The Business Enablers
Member of Tricor and The Bank of East Asia Group
Tricor Roots Consulting Sdn Bhd
Organizations need an incident reporting process, and to what extent it is required.
We hope you enjoy this Newsletter, and as always, please do not hesitate to contact us should you have any queries. We love to hear from you.
Your Trusted Consultant,
Tricor Roots Consulting Executive Team
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Tricor Roots Newsletter July 2013.ai 1 09/07/2013 17:36:35
c. Captures intelligence for Prevention Strategies – this includes identifying gaps in the existing business processes and provide opportunities for improvements in efficiency and quality
The challenge for Organizations is providing an efficient mechanism by which Incidences are reported
without being seen or felt as a burden to the employees. For this to work there must be a number of
strategies in place which includes efficient reporting channels (including technology) for simple and efficient
reporting of incidences. Critically, incidences must lead to feedback and improvement over time.
2. AirAsia, winner of the Skytrax World’s Best and Asia’s Best Low Cost Airline for five consecutive year, selects Q-RADAR to automate and enhance the Risk Management & Business Continuity Management Process.
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As part of its journey for excellence in Enterprise Risk
Management & Business Continuity Management, AirAsia has
selected the Q-RADAR system from Tricor Roots Consulting to
automate and enhance its Risk Management & Business
Continuity Management Framework. A critical element of the
engagement is to implement a flexible system to identify,
monitor & manage key strategic risks across the Group, whilst
providing flexibility to consistently identify new opportunities.
In addition, having a dynamic and easily accessible Business
Continuity Management process with effective Business Impact
Analysis (BIA) and Business Continuity Plans (BCPs) is an
essential element in running the World’s Best Low Cost Airline.
3. Critical Emerging Strategic Performance & Risk Issues
To better support our clients, we have outlined below recent global strategic performance and risk issues.
The information contained is based on sources we believe to be reliable, but we do not guarantee its
accuracy. Tricor Roots Consulting does not have any ownership over this information, nor does it represent
our opinion.
Tricor Roots Consulting is proud to assist AirAsia
on its ongoing ERM & BCM program.
AirAsia was established in December 2001 as a
pioneer in the low-cost carrier industry in Asia,
and is now regarded as one of the leading
Global Airlines.
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Outline
SHAH ALAM: Company directors and chief executive officers (CEOs) may
soon find themselves liable if their employees are found to have committed
graft, said Minister in the Prime Minister's Department Datuk Paul Low.
Low said the government plans to introduce a corporate liability law, where
the board of directors and CEOs would be held responsible for bribes given
by their employees unless they can prove that there are measures in place to
prevent corruption within the organisation.
"This is similar to the UK Anti-Bribery Act," he said, adding that directors of
public companies should start pushing for establishment of corporate
governance and integrity task force to complement their existing audit
committee.
"My advice to companies and their directors is to take heed of this and start
looking at the adequacy of their own corporate integrity systems to ensure
that internal controls are of a sufficient level so that even the courts will be
convinced that reasonable steps have been taken by the directors to
prevent bribery," he said.
Low was speaking at the closing of the Selangor State Development
Corporation (PKNS) Annual Integrity and Good Governance Conference
here.
To read more, click here
About Tricor Roots Consulting
Tricor Roots Consulting is an established and vibrant organization incorporated in 1999 with the mission: Sharing a Passion
for Excellence.
Our vision is to be a global consulting firm backed by innovative software solutions. We are highly focused towards
assisting Organizations and Individuals to achieve their potential for Excellence. Tricor Roots Consulting has vast experience
in providing training and consultancy services in the field of Governance, Risk & Compliance ("GRC") which includes
Performance Management advisory for numerous public listed and many more non-listed companies in the Asia Pacific
region from a diverse range of industries.
In addition, since the release of the Q-RADAR System in September 2001, over 400 companies in the Asia Pacific region
have successfully leveraged on the system as part of the Performance Management & Risk Management Framework
Implementation.
For more information, please log on to www.tricor-roots.com.
Tricor Roots Consulting is part of the Tricor Group of companies. To find out more, go to www.tricorglobal.com.
Headlines
Malaysia: Law in
pipeline to make
CEOs liable for
corruption among
staff
By Teh Eng Hock,
http://www.thestar.com.my
July 8,2013
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