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Governance, Risk and Compliance

Many organisations are grappling with a number of challenges, which are largely driven by increasing complexity caused by technological change, changes in regulations, growing competitive pressures and the impact in globalization and integration of financial markets.

These challenges have continued to pose serious threats to business survival and profitability, and investors’ demands for increased return on investment, accountability and transparency are constantly on the rise. As a result, the need to meet various stakeholders’ expectations and remain competitive has driven some organisations into making unethical and unsustainable business decisions, thereby exposing themselves to unprecedented business risks, reputational and compliance issues.

No organisation can afford to ignore risks (whether business, financial, operational, political, strategic, regulatory compliance and reputational risks).

From the boardrooms to the shop floor, our Governance, Risk, Compliance and Sustainability teams understand what it takes to develop the right strategy to help our clients navigate through the continually changing governance, risk and compliance landscape, and ultimately meet stakeholders’ expectations. We support various clients to improve their transparency around reporting non-financial information to stakeholders and help our clients to be environmentally and socially responsible.

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Governance

Corporate Governance is crucial to the growth and survival of any organization. It encompasses every aspect of directing and controlling an organization and sets the tone for how the organisation operates both internally and externally. It also sets the tone for the relationship between the Board of Directors, management, employees and other stakeholders including the regulators.

PwC is the leader in the provision of innovative and practical governance services in Nigeria. We have extensive experience in helping various organisations across industries and sectors to enhance their governance systems. This involves taking a holistic approach from processes and policies to people and culture.

Our suite of services include:

  • Board evaluation and individual directors’ assessment
  • Corporate governance review
  • Design of corporate governance framework (structure, policies and procedures)
  • Corporate governance training for board and senior management
  • Board induction programs

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Compliance

In Nigeria, constant changes in the business and regulatory environment have necessitated a stricter regulatory oversight. It would seem that on an on-going basis, regulators are developing new rules to guide businesses, and compliance obligations are becoming increasingly difficult to follow. Indeed, the stakes are higher - the cost of non compliance is huge, and the compliance function has become vital to the survival of organizations.

As this complex web of rules evolve, we at PwC do assist our clients to monitor the changes and provide guidance on best-in-class practices in corporate governance.

Our suite of services include:

  • Design of regulatory compliance framework & universe
  • Review & design of compliance standard operating procedures
  • Review of compliance functions
  • Facilitation of trainings and workshops for board, senior management and staff on regulatory compliance obligations

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Risk Management

As companies work round the clock to strike a balance between risk and reward, the world of risk and regulation has continued to change like never before. The pace of these changes has been driven by a mixture of complex business environment, regulatory changes, technological advancement etc.

Our services help clients to identify and manage their risk exposures without losing sight of their business objectives, align risk strategy with performance, establish risk management systems in compliance with regulatory directives amongst others.

Our suite of services include:

  • Financial risk management
  • Review, design and implementation of Enterprise-wide Risk Management (ERM)
  • Basel II/III implementation
  • Internal Capital Adequacy Assessment Process (ICAAP
  • Internal Liquidity Adequacy Assessment Process (ILAAP)
  • Solvency II
  • Own Risk & Solvency Assessment (ORSA)
  • Recovery and Resolution Planning (RRP)

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Sustainability and Climate Change

The alarming information about the state of the environment and the continuing burden of poverty and hunger on millions of people is creating one of the most pressing dilemmas for the 21st century. In Nigeria, sustainability is beginning to display signs of a future potential. Various organization are taking up the challenge to play their role in maintaining and enhancing environmental, social and economic resources in order to meet the needs of current and future generations.

At PwC, we work with companies and the government to align strategies, priorities and activities to sustainable goals and targets in a way that will yield positive impact to both the businesses and societies at large.

Our core services include:

  • Sustainability Strategy : Assist clients to align sustainability standards with business strategy.
  • Sustainability Reporting (including SDGs) : Provide guidance on the preparation of sustainability report narratives based on GRI G4 Framework, GHG Protocol and AA 1000 series and SGDs Reporting Standards.
  • Sustainability Assurance: Provide assurance and issue an opinion (limited or reasonable assurance) on an organisation’s sustainability report in line with ISAE 3000.

Other services we offer include:

  • Integrated reporting
  • Climate finance
  • Carbon measurement and reporting
  • Waste management
  • Total portfolio analysis
  • Training and capacity building.

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Contact us

Femi Osinubi

Femi Osinubi

Partner, West Africa Technology Leader, PwC Nigeria

Tel: +234 1 271 1700

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