On April 13, the Chamber held its regular Compliance Club meeting devoted to the Role of Compliance in Setting Effective Internal Control Framework.
Andrii Matiashevych, Country Ethic and Compliance Officer, GSK Pharma Ukraine presented the framework used in respective company for effective control over risks and reflected in written standards based on company’s values. Such framework is centered on business operations and consists of risk assessment, written standards and controls, training for staff, communication, management monitoring, responding to problems as well as discipline and enforcement.
Following discussion was focused on peculiarities of implementation of certain elements of this framework, delimiting functions of different departments, measuring compliance culture and effectiveness of trainings.
Yuriy Voytsitskyi, Head of Compliance Club, DTEK further led the discussion on different approaches to building the system of internal control and elements of COSO, COCO, CoBit, ARROW, etc. According to him, approach to building such system should depend on the overall aims of the company.