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Check out Independent Audit's report on Cultivating culture: what boards can and can't do about behaviour
Subsidiary companies are not just branches of the parent business. Legally separate, they have their own boards and management teams and are often answerable to regulators in different parts of the world. So, exercising due oversight and control over them can be a challenge.
This practitioner-led, half-day conference on 12 October 2016 featured a number of real life case studies from a variety of high profile companies, we explored how group governance works in subsidiaries; how businesses reconcile the demands of multiple regulators and how to assure transparency and accountability from all subsidiaries.
|09:00||Registration and tea/coffee|
|09.25||Introduction from the chair
Peter Swabey, Policy & Research Director, ICSA
|09.30||Assessing corporate culture at subsidiary level|
|Most companies now agree that a positive culture gives competitive advantage, as well as reducing the risk of wrongdoing at all levels within an organisation. So it makes sense for a parent company to assess and manage the cultures of their subsidiaries too. But how?
Richard Sheath, Director, Independent Audit Ltd
|10.00||Panel session: working with foreign subsidiary boards|
|National cultures are far stronger than any organisational culture. This means that even relatively simple corporate exercises such as board evaluations could end up backfiring horribly if carried out in an insensitive or heavy-handed way. Here our panel discuss some of their first hand experiences of how they balance global integration with local responsiveness.
John Mills, Group Company Secretary, Anglo American
Ben Mathews, Group Company Secretary, HSBC
|10.40||Case study: Intertek Group plc
|Intertek is a quality assurance provider to industries worldwide and has a network of more than 1,000 laboratories and offices employing over 40,000 people in more than 100 countries. They provide bespoke assurance, testing, inspection and certification solutions for operations and supply chains. Here we find out how they monitor and manage their subsidiary network.
Ida Woodger, Deputy Company Secretary, Intertek Group plc
Roseanna Rowett, Company Secretarial Assistant, Intertek Group plc
|11.05||Networking tea and coffee break
|11.30||Competition law and liability for subsidiaries and operating boards
|When subsidiaries are caught breaking competition law it is the parent company that is frequently found liable and on the hook for fines of up to 10% of global turnover. Here we look at current competition and antitrust law; the potential impact of Brexit on the current regime; practical enforcement risk and; wider antitrust exposure for boards.
Nicole Kar, Partner, Linklaters
|12.00||Health and safety: risk and liability review|
|If there is a serious breach of health and safety rules at a subsidiary, will the parent be held liable? The truth is there are no hard and fast rules that can be used to establish where the buck stops. Here, we look at some recent case studies in this area and find out what factors the courts use to determine liability.
Ann Metherall, Partner, Burges Salmon
|12.30||Risk culture v organisational culture|
|As organisational structures become increasingly complex with more staff operating in more countries, the job of effectively managing risk across these large enterprises becomes exponentially harder. In this session, we explore how an organisation can more clearly understand its risk culture, why it’s important and the differences between risk culture and organisational culture.
Richard Anderson, Director, Anderson Risk
|13.00||Conference closes followed by lunch|
Computershare Governance Services
Computershare Governance Services (CGS) is the leading global supplier of web based entity management, board portal and subsidiary governance solutions.
We help clients understand and improve the effectiveness of their governance, including the board and its committees, internal and external audit, risk governance and culture.
TMF Group is a leading global provider of high-value business services to clients operating and investing globally.
We’re a new kind of law firm that’s part of the Jordans Group, giving you access to expert corporate and commercial legal support as and when you need it.
Estate Research are an international research firm based in London who specialise in reuniting unclaimed assets with both individuals and companies.
To be confirmed
Phone: 020 7612 7032