{"id":57365,"date":"2019-08-14T00:00:00","date_gmt":"2019-08-13T22:00:00","guid":{"rendered":"https:\/\/llyc.global\/2019\/08\/29\/compliance-and-clarity-communications-and-corporate-governance\/"},"modified":"2019-08-29T00:00:00","modified_gmt":"2019-08-28T22:00:00","slug":"compliance-and-clarity-communications-and-corporate-governance","status":"publish","type":"post","link":"https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/","title":{"rendered":"Compliance and clarity: Communications and corporate governance"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;3.0.47&#8243;][et_pb_row _builder_version=&#8221;3.0.47&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.0.47&#8243; parallax=&#8221;off&#8221; parallax_method=&#8221;on&#8221;][et_pb_text admin_label=&#8221;Intro&#8221; _builder_version=&#8221;3.1.1&#8243;]<\/p>\n<p>We live in an era of <strong>hyper-transparency<\/strong>, a key feature of a time in which \u201cthere is no way to escape, no place you can hide,\u201d as stated by<a href=\"https:\/\/www.linkedin.com\/in\/andreabonimeblanc\/\"> Andrea Bonime-Blanc<\/a>, founder of the company <a href=\"https:\/\/gecrisk.com\/\">GEC Risk Advisory<\/a>. Organizations must accept that <strong>they cannot hide<\/strong> or remain silent, and especially not be passive objects of conversation.<\/p>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;El control del poder&#8221; _builder_version=&#8221;3.1.1&#8243;]<\/p>\n<h1>Control of Power<\/h1>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;3.1.1&#8243;]<\/p>\n<p>A company\u2019s corporate governance encompasses the following areas:<\/p>\n<ul>\n<li>The<strong> decision-making process<\/strong> related to the company\u2019s general strategic direction and corporate policies, including investments, mergers &amp; acquisitions, executive appointments and succession planning.<\/li>\n<li>The mechanisms that guarantee <strong>executive management\u2019s proper performance<\/strong> and approved <strong>strategic plan\u2019s implementation<\/strong>.<\/li>\n<li>The <strong>establishment of appropriate policies and procedures<\/strong> to ensure the company and its managers, as well as its employees and involved third parties, comply with the relevant regulatory framework.<\/li>\n<li>The <strong>communication channels between the company\u2019s main governing bodies<\/strong>, as well as the execution of their rights and duties, including the management board, board of directors and shareholders.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Del informe financiero al integrado&#8221; _builder_version=&#8221;3.1.1&#8243;]<\/p>\n<h1>From financial to integrated report<\/h1>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;3.1.1&#8243;]<\/p>\n<p>One of the keys to good corporate governance is<strong> keeping stakeholders informed of all events that may impact the operation<\/strong> and, above all, the progression of the results. This obligation to be transparent is mentioned in general terms in communication policies, frequently appearing in regular reports and, specifically, road shows.<\/p>\n<p>The <a href=\"https:\/\/integratedreporting.org\/the-iirc-2\/\">International Integrated Reporting Council (IIRC)<\/a> is a global coalition of the regulators, investors, businesses, standard makers, accountants and NGOs who promotes an evolution in corporate reports based on a new way of communicating.<\/p>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Del reporting al di\u00e1logo&#8221; _builder_version=&#8221;3.1.1&#8243;]<\/p>\n<h1>From reporting to dialogue<\/h1>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;3.1.1&#8243;]<\/p>\n<p>The governance of an organization requires constant communications in many, if not all, of its areas. In some cases, it is a matter of reporting both financial and nonfinancial results. In addition to reporting, <strong>communication is essential to keeping decision-making bodies connected with stakeholders<\/strong>.<\/p>\n<p><strong>Information technologies have been making these conversations increasingly personal and individual, so the concept of a \u201cstakeholder\u201d has become obsolete due to its inaccuracy.<\/strong> Thinking and acting as if all customers want to have the same type of relationship with the brand is as well. Today\u2019s communication tends are more individual than collective, though collective communication still influences conversations\u2014particularly through social media, where it can still affect individuals.<\/p>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Cumplir o explicar&#8221; _builder_version=&#8221;3.1.1&#8243;]<\/p>\n<h1>Either comply or explain<\/h1>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;3.1.1&#8243;]<\/p>\n<p>The main tenet of the Spanish National Securities Market Commission\u2019s (CNMV\u2019s) <a href=\"https:\/\/www.cnmv.es\/docportal\/publicaciones\/codigogov\/codigo_buen_gobierno.pdf\">Code of Good Governance<\/a>, which is based on reference documents in the field of corporate governance, is that a company must \u201ceither comply or explain.\u201d <strong>Compliance must not only be to regulations, but also to the rules dictating good practices<\/strong>, which the regulatory agency understands must be incorporated into companies.<\/p>\n<p>\u201cExplanation\u201d focuses on noncompliance with these good practices, such as failing to report or break down remuneration to the members of the management board and executive team. Another recent example of \u201cexplanation\u201d is in gender equality policies, referring to the percentage of women in the workforce and, above all, in the management and administrative bodies.<\/p>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Los seis principios de la OCDE y el G20 para el gobierno corporativo&#8221; _builder_version=&#8221;3.1.1&#8243;]<\/p>\n<h1>G20\/OECD six principles for corporate governance<\/h1>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;3.1.1&#8243; background_color=&#8221;#e6eef4&#8243; custom_padding=&#8221;30px|30px|30px|30px&#8221;]<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li><strong>Effective corporate governance framework<\/strong><\/li>\n<li>The <strong>rights and equitable treatment<\/strong><\/li>\n<li><strong>Institutional investors, stock markets and other intermediaries<\/strong><\/li>\n<li>The <strong>stakeholders\u2019 role in corporate governance<\/strong><\/li>\n<li><strong>Data disclosure and transparency<\/strong><\/li>\n<li><strong>Management board responsibilities<br \/>\n<\/strong><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;3.0.47&#8243;][et_pb_row _builder_version=&#8221;3.0.47&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.0.47&#8243; parallax=&#8221;off&#8221; parallax_method=&#8221;on&#8221;][et_pb_text admin_label=&#8221;Intro&#8221; _builder_version=&#8221;3.1.1&#8243;] We live in an era of hyper-transparency, a key feature of a time in which \u201cthere is no way to escape, no place you can hide,\u201d as stated by Andrea Bonime-Blanc, founder of the company GEC Risk Advisory. Organizations must accept that [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":57366,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[86],"class_list":["post-57365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ideas"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v24.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Compliance and clarity: Communications and corporate governance - LLYC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Compliance and clarity: Communications and corporate governance\" \/>\n<meta property=\"og:description\" content=\"[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;3.0.47&#8243;][et_pb_row _builder_version=&#8221;3.0.47&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.0.47&#8243; parallax=&#8221;off&#8221; parallax_method=&#8221;on&#8221;][et_pb_text admin_label=&#8221;Intro&#8221; _builder_version=&#8221;3.1.1&#8243;] We live in an era of hyper-transparency, a key feature of a time in which \u201cthere is no way to escape, no place you can hide,\u201d as stated by Andrea Bonime-Blanc, founder of the company GEC Risk Advisory. Organizations must accept that [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/\" \/>\n<meta property=\"og:site_name\" content=\"LLYC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/LLYC.Global\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-13T22:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-28T22:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/llyc.global\/wp-content\/uploads\/2023\/10\/imagen_cuerpo_web-7.png\" \/>\n\t<meta property=\"og:image:width\" content=\"350\" \/>\n\t<meta property=\"og:image:height\" content=\"193\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"maguilar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@llorenteycuenca\" \/>\n<meta name=\"twitter:site\" content=\"@llorenteycuenca\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"maguilar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Compliance and clarity: Communications and corporate governance - LLYC","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/","og_locale":"en_US","og_type":"article","og_title":"Compliance and clarity: Communications and corporate governance","og_description":"[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;3.0.47&#8243;][et_pb_row _builder_version=&#8221;3.0.47&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.0.47&#8243; parallax=&#8221;off&#8221; parallax_method=&#8221;on&#8221;][et_pb_text admin_label=&#8221;Intro&#8221; _builder_version=&#8221;3.1.1&#8243;] We live in an era of hyper-transparency, a key feature of a time in which \u201cthere is no way to escape, no place you can hide,\u201d as stated by Andrea Bonime-Blanc, founder of the company GEC Risk Advisory. Organizations must accept that [&hellip;]","og_url":"https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/","og_site_name":"LLYC","article_publisher":"https:\/\/www.facebook.com\/LLYC.Global\/","article_published_time":"2019-08-13T22:00:00+00:00","article_modified_time":"2019-08-28T22:00:00+00:00","og_image":[{"width":350,"height":193,"url":"https:\/\/llyc.global\/wp-content\/uploads\/2023\/10\/imagen_cuerpo_web-7.png","type":"image\/png"}],"author":"maguilar","twitter_card":"summary_large_image","twitter_creator":"@llorenteycuenca","twitter_site":"@llorenteycuenca","twitter_misc":{"Written by":"maguilar","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/","url":"https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/","name":"Compliance and clarity: Communications and corporate governance - LLYC","isPartOf":{"@id":"https:\/\/llyc.global\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/#primaryimage"},"image":{"@id":"https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/#primaryimage"},"thumbnailUrl":"https:\/\/llyc.global\/wp-content\/uploads\/2023\/10\/imagen_cuerpo_web-7.png","datePublished":"2019-08-13T22:00:00+00:00","dateModified":"2019-08-28T22:00:00+00:00","author":{"@id":"https:\/\/llyc.global\/en\/#\/schema\/person\/8187160eba73b996b064cce622bd4541"},"breadcrumb":{"@id":"https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/#primaryimage","url":"https:\/\/llyc.global\/wp-content\/uploads\/2023\/10\/imagen_cuerpo_web-7.png","contentUrl":"https:\/\/llyc.global\/wp-content\/uploads\/2023\/10\/imagen_cuerpo_web-7.png","width":350,"height":193},{"@type":"BreadcrumbList","@id":"https:\/\/llyc.global\/en\/ideas\/compliance-and-clarity-communications-and-corporate-governance\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/llyc.global\/en\/"},{"@type":"ListItem","position":2,"name":"Compliance and clarity: Communications and corporate governance"}]},{"@type":"WebSite","@id":"https:\/\/llyc.global\/en\/#website","url":"https:\/\/llyc.global\/en\/","name":"LLYC","description":"Consultoria de comunicaci\u00f3n marketing y asuntos p\u00fablicos","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/llyc.global\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/llyc.global\/en\/#\/schema\/person\/8187160eba73b996b064cce622bd4541","name":"maguilar","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/llyc.global\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2567cb4cb8cda24204d7f7cde2c10fbd?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2567cb4cb8cda24204d7f7cde2c10fbd?s=96&d=mm&r=g","caption":"maguilar"}}]}},"_links":{"self":[{"href":"https:\/\/llyc.global\/en\/wp-json\/wp\/v2\/posts\/57365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/llyc.global\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/llyc.global\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/llyc.global\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/llyc.global\/en\/wp-json\/wp\/v2\/comments?post=57365"}],"version-history":[{"count":0,"href":"https:\/\/llyc.global\/en\/wp-json\/wp\/v2\/posts\/57365\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/llyc.global\/en\/wp-json\/wp\/v2\/media\/57366"}],"wp:attachment":[{"href":"https:\/\/llyc.global\/en\/wp-json\/wp\/v2\/media?parent=57365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/llyc.global\/en\/wp-json\/wp\/v2\/categories?post=57365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}