The services we offer:
Governance,Risk and Compliance
There has been a stronger focus on integrating governance, risk management and compliance (GRC) within organisations. The benefit of the GRC approach is that it avoids fragmented governance, risk and compliance programmes and removes the “silo” approach where solutions are determined at a tactical level without taking strategic needs into account. GRC programmes are normally based on King IV principles. Organizations that adopt a GRC approach have a head start when running a business. The strategic and business planning process must be fully integrated into the GRC framework.
Governance is the combination of processes established and executed by the board of directors/members that are reflected in the organization’s structure and culture and how this is managed and led toward achieving goals.
Risk management relates to predicting and managing risks that could hinder the organization from reliably achieving its objectives under uncertainty.
Compliance refers to adhering with the mandated boundaries (laws and regulations) and voluntary boundaries (company policies, procedures, industry codes) etc. that apply to it.There are currently about 500 statutes on the books in South Africa. Business owners and senior managers need to know what laws, business rules, codes and policies apply to them. Then they need to assess the risks highlighted by this review and ensure that their internal processes, procedures & controls comply with these requirements. InTouch Advisory offers a customized, sophisticated Legal Governance Risk Compliance matrix which enables business entities to remain compliant with all the laws applicable to their businesses. Modules offered are Business & Commercial Law, Data Protection Law, Labour, Health & Safety Law and Environmental Law.
InTouch Advisory will conduct a maturity analysis on current GRC practices and then recommend and implement a fit for purpose GRC regime.
The Balanced Scorecard
An important part of governance relates to strategic and business planning.This is where the Balanced Scorecard comes into play.The essence of the Scorecard is that it translates strategy into action and does so by recognizing that financial measures should not be used in isolation when measuring performance but must be balanced by the use of customer, operational effectiveness and learning & growth perspectives. The Balanced Scorecard management system is a good way of looking at organisations by focusing on the big-picture strategic goals and associated risks. It also helps the organization choose the right things to measure so that those goals can be reached and risks mitigated.
Traditionally, companies have judged their health by how much money they make. Financial measures are definitely important, but they only give part of the picture. They focus on the short-term, and organisations shoulds be trying to build an organization to stand the test of time. The name “Balanced Scorecard” comes from the idea of looking at strategic measures in addition to traditional financial measures to get a more “balanced” view of performance.
InTouch Advisory will facilitate the introduction of the Balanced Scorecard approach within an organization.
