Year: 2024
Type: article
Abstract: \nConsidering the current global economic integration and the rapid development of the market economy, corporate compliance and governance involve compliance with legal regulations and many comprehensive issues, both internal and external. This paper briefly describes the design of corporate compliance and governance systems. First, the potential risks should be systematically identified and evaluated based on the corporation’s strategic objectives and operating environment. Second, the company should establish appropriate compliance policies and procedures to identify and minimize violations after assessing risks. In addition, it is necessary to set up a department responsible for daily compliance supervision and training to ensure that policies can be effectively implemented. Another important aspect is to establish a monitoring and evaluation mechanism. Managers should review and evaluate the governance system regularly or irregularly and identify and correct weaknesses in the system in a timely manner. At the same time, the establishment of internal and external communication mechanisms cannot be ignored. This will help strengthen mutual trust between enterprises and stakeholders and effectively meet the expectations of external regulators and the market.\n
Author: Zhen Tian
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6940950845
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