The Code contains main and supporting principles and provisions. The Listing Rules require listed companies to make a disclosure statement in two parts in relation to the Code. In the first part of the statement, the company has to report on how it applies the principles in the Code.
This should cover both main and supporting principles. The form and content of this part of the statement are not prescribed, the intention being that companies should have a free hand to explain their governance policies in the light of the principles, including any special circumstances applying to them which have led to a particular approach. In the second part of the statement the company has either to confirm that it complies with the Code’s provisions or – where it does not – to provide an explanation.
This ‘comply or explain’ approach has been in operation for over ten years and the flexibility it offers has been widely welcomed both by company boards and by investors. It is for shareholders and others to evaluate the company’s statement.
All requirements were visualized and can be used throughout the Corporate Modeler toolset and can be easily customized to your organizational environment. Because of our extensibility you are free to add your own Audit question and controls and cross reference them with the modeled requirements, with your own processes or you can use the pre defined ITIL process model and get the cross references out of the box.
As part of our Casewise tool set you will be able to schedule audit questions and controls in order to perform internal checks/audits or just performed simple assessments. Based on this data you will be able to communicate the results via our HTML Portal within different Dashboard or list views. This data can also be maintained (create, delete, update) via the Portal (web front end).