This webinar took place on Wednesday 24 May 2023
In the past two years, businesses have dealt with a series of shocks. The pandemic hit at an est. cost of £134bn to UK businesses. Suddenly, many important questions had to be answered; Was there enough cashflow to keep operations going and mitigate financial solvency? How best to digitise business processes and the workforce to operate remotely? How to retain the great exodus of employees and ensure their mental and physical wellbeing?
Governance evolved and businesses survived. But still, businesses are facing a whole range of geopolitical and macroeconomics shocks felt from sources such as the pandemic and the Russia-Ukraine war. Global supply chain faces continuous challenges, simultaneously inflation is at over 10.7%, the highest in 40 years. BoE increased interest rates by a hefty 3% in 2022 with stern warnings of an impending recession, inevitable to further fuel the current cost of living crisis.
All of this while the climate crisis rages forward. Businesses evolved and modern governance is a new imperative. C-suite needs to have a detailed view of the microenvironment of their business if it’s to remain agile and robust. Our expert panel and your peers discussed:
Hin Chan, Business Value Consultant, Diligent
Hin is a business value lead experienced in understanding the organizational and operational needs of businesses, empowering governance teams realise business value and quantify the value of change. He is currently establishing a Business Value Consultancy within Diligent which aims to provide our 25000+ customers with the rationale to invest in the Diligent platform, in light of evolving governance requirements and a period of unprecedented change for businesses.
Paul George, Partner, Board Excellence
Paul is an expert in corporate governance, reporting and audit. In a career spanning 40 years he has been a partner in a major accountancy firm, an executive director of a publicly quoted consultancy business and of a Non-Departmental Public Body and a non-executive director of two public companies and two charities.
Paul spent more than 16 years at the FRC initially establishing the UK’s independent system for audit regulation, then establishing and running its Conduct Division and most recently as the Executive Director for Corporate Governance and Reporting. In this role Paul was responsible for the 2018 UK Corporate Governance Code, the Wates Principles of Corporate Governance for Large Private Companies, and the 2020 Stewardship Code. He was also the Executive Director responsible for the FRC’s publication Corporate Culture and the Role of Boards, the FRC guidance on Board Effectiveness and the FRC’s guide to the Strategic Report.
Marla Balicao, Secretariat and Governance Director, GLP
Diligent is the global leader in modern governance, providing SaaS solutions across governance, risk, compliance, audit and ESG. Empowering more than 1 million users and 700,000 board members with a holistic view of their organization’s GRC practices so they can make better decisions, faster. No matter the challenge. Learn more at diligent.com.
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