Global Head of Compliance and Strategic Regulatory Services at TMF Group Leila Szwarc briefly discusses the changing view of global compliance within multinational businesses.
Leila provides her view on how it’s moved from being at the end of the chain, to a more central concern with a significant influence on overall business strategy.
Read the full transcript below.
“Why do we think that compliance and governance is coming closer to the board and the strategy? It's because in the past the functions were pretty much outside of the strategy, outside of the face or of the fronting of any company. Compliance was also considered a function that was limiting the evolution of a company, that apart from costing money was also stopping some of the businesses.
And there is a changing mindset in the sense that now compliance and good governance is actually shielding companies when it comes to expanding, when it comes to sustaining the business and when it comes to defending where they are located, why they're doing what they're doing. So, it becomes a very strategic decision that comes very fast at a board level to use compliance as a tool.
The complexity that compliance brings, the complexity that good governance brings, is actually for boards that understand well, a very important and beneficial tool that is going to bring them forward in a faster way, because it's going to protect them of some of the negative impacts in the market, that if they don't have this compliance environment framework and these good governance processes and procedures they might fail or fall.”
Talk to us
TMF Group’s corporate secretarial and global entity management services can be integrated with accounting, tax, HR and global payroll solutions.
With some 7,800 in-house experts on the ground in over 80 locations we are the only company worldwide to provide the essential administrative functions needed by companies starting up, expanding and sustaining their businesses across borders.
That’s why over 60% of the Fortune Global 500 and FTSE 100 and almost half the top 300 private equity firms, use us.
TMF Group’s corporate secretarial and global entity management experts can help you in a number of ways.
Need more information? Contact us today.