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This article "Metric of the Month: Internal Audit Costs" is a worth reading! With new auditing technologies, companies can now capture and analyze big data in real time, spotting fraud in progress and helping to head off potential catastrophes. As someone who worked in Process Safety Assurance, I understand the importance of identifying weak signals that could lead to adverse outcomes. By leveraging technology, the next generation of internal assurance should mitigate integrated process risks in real time, reducing the likelihood of safety, environmental, reliability, and product quality incidents. Let's work towards a safer, more sustainable future. #processsafety #sustainability #reliability #environmental #internalassurance #aiche #artificialintelligence #workplacesafety

📊🚀 Is your organization ready to tackle CSRD compliance? Simplify the process with these five practical steps. Check out our latest blog to learn how a custom, affordable no-code reporting tool can make compliance easier. #CSRD #Compliance #NoCode #BusinessAutomation #Triggre

The dynamic nature of global regulations means sustainable and efficient compliance practices have never been more critical. So, what's the solution? Discover the path to sustainability in compliance here ➡️ https://lnkd.in/epEU9GhR #RegGenome #Compliance #GenAi #LLM

🇪🇺 The EU's #CS3D is set to take effect in 2027, giving large companies limited time to prepare. It can appear daunting, but we’re here to simplify it for you and help your business get ready for what’s next. 🌱 Our latest blog provides insights on establishing a code of conduct, monitoring your value network, and addressing non-compliance. Discover how to support struggling suppliers and maintain proper documentation to avoid hefty fines. Join the EU's drive for #sustainability and position your company as a leader. Check out our CS3D FAQs and start your preparations today ⬇ 

Tip 5: Stay up to date with regulations and technology Keeping up with regulatory changes is one of the biggest challenges you face when it comes to compliance. And it is highly likely that regulations on CO2, NOx and SOx will become even more strict than they are today. There is a simple way to address this challenge: make sure you proactively follow updates provided by regulatory authorities and your engine manufacturer. These updates and their implications for your ships should be shared with everyone in your organisation – from management to ship crews. This will ensure that everyone understands why regulations need to be followed and how to comply with them. In addition to keeping up with regulations, you also need to stay up to date with new technologies. Regulations will also be extended to cover emissions such as methane slip, for example – which requires new technological innovations. On top of regulatory and technological changes, there is an increasing shift towards digital documentation and certification, which will help you better manage your fleet’s compliance. However, to take advantage of these digital tools you will need new skills and new ways of working, and you won’t be able to acquire these overnight.

What do you think is more expensive? The cost of a system to manage your environmental compliance as a company or not doing anything and running the risk of a major incident, fines or the loss of business? Check this out! #esg #compliance #SaaS #evotix

This Supply Chain Movement article https://lnkd.in/eFNrV789 that points out the current state of ESG and Risk Management among companies that are affected by EU CSDDD law as of 2027, as conducted by EQS Group and the University of Applied Sciences Ansbach. It shows “critical gaps” in supply chain transparency and resources needed to comply with the new directive. As the main obstacles, respondents cite a lack of supply chain visibility and labor. Especially on the levels of indirect suppliers 55% of the respondents rate the risk of human rights and environmental violations as high or very high. However, only 30% of companies plan to allocate additional resources such as budget, staff or IT tools to tackle these problems. The deeper you go into the value chain, the more complex the risks become. Managing this through Excel (58%), separate data sources and email is not really a scalable and reliable way of working. Especially not for companies with a revenue of €1,500 million or more. While having a risk management platform in place can offer an opportunity to get a better grip and position in the supply chain by strengthening trust and meeting the legal requirements. TradeBeyond offers a modular End to End Supply Chain management platform that includes CSDDD tooling such as: -         Supplier Collaboration Management -         Compliance Attestation (Integrated with BSCI, Higg, amfori, WRAPP) -         Supply Chain Transparency mapped relationship to the Nth Tier -         Supply Chain Traceability (Chain of Custody Management by AI & ML) -         Supplier Performance Management (Social, Labor, CAPA, Scope 1,2,3, Wastewater) For more information please visit https://lnkd.in/enM2Tj9K or send me a DM.

#EU #duediligence #law raises #compliance burden on #vendors #checks and #supplychain #audits for both #European and #international #economic actors. More info at NSSG.

EUROPEAN UNION: New proposed supply chain due diligence law elevates compliance burdens At a European Union (EU) ambassador’s meeting in Brussels, Belgium, EU efforts to pass a supply chain due diligence legislation failed after vetoes from Germany and Italy. Ambassadors at the Committee of Permanent Representatives on Wednesday, 28 February, failed to surpass the 65% threshold for the qualified majority, with delegates from both states claiming that passage of the Corporate Sustainability Due Diligence Directive (CSDDD) would harm their respective industries. The CSDDD is a legislative framework that requires “large” companies based in the 27-member trading bloc to conduct due diligence along their respective value and supply chains to identify and prevent adverse impacts of their activities on human rights and the environment. Companies would be obligated to risk assess and apply preventative measures and remedies as well as obtain contractual assurances from vendors that they, too, will comply with these measures. Under the new requirements, EU-based companies with more than 500 employees and a global turnover of EUR 150 million would be required to comply with the CSDDD. For non-EU firms, similar conditions apply, although the net turnover is only applicable within the bloc. The CSDDD is part of broader EU efforts to improve sustainability requirements, complementing the Corporate Sustainability Reporting Directive (CSRD), which came into force in 2023. Whereas the CSRDD is aimed at improving sustainability reporting, the CSDDD is targeted toward upscaling supply chain due diligence. The challenge, however, is that companies, particularly in high-risk sectors such as textiles, agriculture, extractives and manufacturing, rely on complex global supply chains. Identifying vulnerabilities and the limits of liability are extremely difficult. Soon after the CSDDD was blocked, several civil rights organisations issued public condemnations against Germany, Italy and the EU. The International Federation for Human Rights (FIDH) called on Belgium, which is serving as the current EU president, to revisit the matter in the coming months. Companies subject to complying with the CSRD and CSDDD, if passed, should assess how new compliance burdens may impact operations and investments. Compliance teams are advised to educate senior-level leaders on aligning risk strategies with these new compliance concerns, mainly integrating these issues with existing (Enterprise) Risk Management frameworks. Contact us at support@nssg.global to learn how we can assist with your risk management needs and requirements.

#Whistleblowing made public the scandal of Volkswagen’s software that falsified emissions tests for diesel cars in 2015 🚗 Europe (and accordingly the member states such as Greece) has adopted the Whistleblower Directive, or Directive 2019/1937 on the protection of persons who report breaches of Union law. Impacta ESG Consulting provides the #WhistleblowingProtocol service which includes: 🚨 Writting of the Whistleblowing Policy & Managing the Reporting Process 🚨 Preparation & Management of the Internal Complaint System (including a platform) 🚨 Employee training on the topics: “Business Ethics”, “Whistleblowing” 🚨 Training of managers (HR, Compliance, Legal) 🚨 Integrity Pulse Survey It is mandatory in Greece for the companies accordingly: ⏳ 1 to 49 employees on a voluntary basis ⏳ 50 to 249 employees mandatory to be compliant until 17/12/2023 ⏳ 250 or more employees mandatory to be compliant until 11/05/2023 At Impacta ESG Consulting we aim to support #enterprises to be #compliant to the new #EUWhistleblowingDirective We can help on your journey to #governanceSolutions and #esgSolutions 🎈 Ask us how ☎️ #ESGinAction #IMPACTAesgConsultants