Corporate Governance

A Journey Beyond the Code 

At Grant Thornton, we believe that in today's business landscape, the essence of good Corporate Governance (CoGo) extends far beyond a ‘tick-the-box mentality’ and only adhering to Codes. We believe that good Corporate Governance is an essential part of the organizational culture that must be nourished at every level of the organization to steadily improve organization’s performance in such a way that its growth is also aligned with the organization’s values. 

Our approach to Corporate Governance is pragmatic: 

• We begin with understanding your business, your industry, and your specific governance and compliance needs.
• We help you develop and strengthen governance structures and practices that address shareholder and stakeholder expectations. 
• And we do so within the boundaries of operational and commercial acceptability. 

Grant Thornton Aruba provides services in five main areas:

Area 1: Corporate Governance Readiness Assessment 

1. Assessment of an organization's current governance practices against the requirement of the Corporate Governance law. This assessment will help identify areas of compliance, gaps, and the necessary steps to align with the regulations. 
2. Formulate recommendations to address identified gaps. 
3. Develop a timeline and action plan for implementing necessary changes to achieve full compliance before the law takes effect. 

Area 2: Grant Thornton Corporate Governance Maturiry Model

1. Assessment of the current Corporate Governance Maturity level of an organization based on the GT CoGo Maturity Model.
2. Formulate a development journey plan “Beyond the Code” to elevate the Corporate Governance Maturity level of an organization.
3. Positive Change Management.

Area 3: Support organizations with the formulation of regulations, policies, and procedures in line with the Corporate Governance laws and regulations

We can support organizations with the following: 

• Conflict of Interest Regulations
• Selection and Appointment Procedures for Directors and Supervisory Board Members
• Preparation of a Succession Plan for Directors and Supervisory Board Members
• Development of Training and Education Program for Supervisory Board Members
• Development of an Introduction Program for Supervisory Board Members
• Preparation of Plan for Appointment and Reappointment of Supervisory Board Members and Succession Plan
• Preparation of Regulations for Task Distribution and Working Methods of the Supervisory Board
• Internal Procedures for Financial Information
• Preparation of Management Report (Long-term Vision and Strategy, ESG Strategy, Risk Assessment, Risk Management and Control, Organizational Culture, and Long-term Value Creation, Compliance with Code of Conduct)
• Work Plan for Internal Audit Function
• Design of Internal Risk Management and Control Systems
• Design of Multi-Year Business Plan
• Formulate job profiles for Directors and Supervisory Board Members
• Formulate Code of Conduct
• Formulate Corporate Governance Charter

Area 4: Provide training 

Grant Thornton Aruba provides training on:

• The fundamentals of Corporate Governance
• Roles and responsibilities of Directors
• Roles and responsibilities of Supervisory Board Members
• Roles and responsibilities of the Internal Audit Function

Area 5: Other support

• Support organizations with the Board self-assessment; Directors and Supervisory Board members.