The compliance trio – this is how you can refer to three important documents adopted by the Management Board of Global Cosmed S.A. for the entire Capital Group. These are the Whistleblowing Policy, the Anticorruption Policy and the AML/CFT Procedure. This is the next stage of the evolution of the supervision system over the compliance of the Company’s and the Capital Group’s operations with the law and an expression of due diligence of the company’s authorities in managing the Company.
The extensive management control system supports the Management Board in its daily duties of supervision and management as well as risk mitigation, and makes the processes in the company more transparent. In particular, the objectives of such a system include:
- ensuring the highest standards of operation by Global Cosmed S.A. and companies within the Global Cosmed Capital Group;
- maximizing the compliance of operations with the law, internal regulations and ethical standards;
- identification of the areas of activity of Global Cosmed S.A. with the highest risk of non-compliance with the law;
- implementation of the principles of Best Practice for WSE Listed Companies 2021 and the Guidelines of the WSE Corporate Governance Committee issued on its basis.
The documents adopted today (along with the Policies, Procedures and Regulations held so far) constitute a coherent system of supervision over compliance with the law (Compliance) and constitute one of the essential parts of the company’s control system. They were created in accordance with the recommendations of the above-mentioned DPSN, are an integral part of modern corporate governance and at the same time meet the market expectations in terms of transparency of operations.
The first of the adopted documents, the Whistleblowing Policy, regulates the manner of reporting irregularities in the company’s operations. Another, the Anticorruption Policy, is designed to eliminate the risk of corruption, cronyism or nepotism in the company. Finally, the AML/CFT Procedure is designed to minimize the risk of violating the provisions of the Anti-Money Laundering and Counter Financing Terrorism Act.
Due to their relevance and practical application, the provisions of the policies will be implemented as part of employee training in each company!