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  • Good governance index: World Watch: PwC
    to stimulate debate and reveals governance is hard to quantify Good governance is a prerequisite for sustainable corporate success and the Institute of Directors IoD is looking to identify the elements of governance and exploring the creation of a ranking system for companies Their paper The Great Governance Debate Towards a Good Governance Index for Listed Companies sets out to assess the instrumental factors in what makes companies governance good and whether it s possible to create a list of companies who govern well The study encompassed listed companies in the UK and identified 53 instrumental factors in governance Forty five of those factors are used to assess corporate governance and eight are used to understand the business environment for example turnover and market capitalisation The Institute s paper discusses the difficulty of defining influential factors in good governance The Director of the IoD Ken Olisa noted that stakeholders are reduced to observing consequences rather than the actual workings of the governance framework because the process of governance often takes place behind the closed doors of the boardroom But the research showed that closed doors weren t necessarily the biggest problem The issue writes Mr Olisa lies in the fact that behaviours are organic A particular action is the result of the interaction between many separate elements An individual director s behaviour is driven by a host of different factors some physical som chemical and some inexplicable Mr Olisa writes He admitted that to reduce the collective behaviour of directors to a small list of code defined mechanistic items susceptible to a tick box analysis would be naïve But the IoD s analysis accounts for some of those organic factors measuring corporate behaviour by for example looking at signs that may be indicative of poor governance such as a recent

    Original URL path: http://www.pwc.com/gx/en/services/audit-assurance/corporate-reporting/world-watch/institute-of-directors-moots-good-governance-index.html (2016-02-10)
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  • Africa regulation compliance transformation survey: World Watch: PwC
    face of increased risk CEOs in Africa are seeing more opportunities than three years ago but they re also seeing more risk Across Africa ongoing political economic and social developments are raising concerns Inadequate infrastructure concerns over access to healthcare and food security as well as the effects of climate change are accelerating significantly And while technology is bringing much needed assistance like cloud computing and the Internet of Things cybercrime and cyber terrorism are ever present threats PwC s latest survey on the continent involved more than 350 executives across a range of industries in Africa with the results benchmarked against findings of PwC s Global Risk in Review studies conducted over the last three years Top risks in Africa The survey found that respondents expect the top risks will be increasing regulatory complexity technological change government policy changes and inadequate infrastructure To address these shifts and their risks experts say companies will have to undergo significant transformation and the survey showed evidence that this is already underway with African companies home to a higher proportion of risk leaders 29 compared to global organisations 16 The World Economic Forum identified the top global risks too with interstate conflicts water crises and un underemployment all making the top five risks overall Given its lack of comprehensive adequate infrastructure Africa is particularly vulnerable to such risks and while companies identified separate risks those selected by the WEF are part of a broader risk picture that African companies are constantly monitoring A vulnerable continent Indeed recent events have shown Africa to be extremely vulnerable The outbreak of the infectious disease Ebola in West Africa devastated lives and economies and highlighted the lack of access to basic health services in those countries and impacted foreign tourism to an extent that is still being

    Original URL path: http://www.pwc.com/gx/en/services/audit-assurance/corporate-reporting/world-watch/as-regulation-and-compliance-sweep-africa-so-does-transformation.html (2016-02-10)
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  • Business implementation of UN sustainable development goals: World Watch: PwC
    detract from their government s implementation aims Experts suggest that for businesses to show willing will be key Support for the goals means that companies will be on the receiving end of fair regulation and a welcoming license to operate those businesses that don t set goals congruent with government ambition may find themselves at a competitive disadvantage Considerable investment required While the investment involved for business should not be underestimated the SDGs also represent a considerable opportunity for companies to shape their impact on the world s biggest issues to innovate and to explore new market opportunities This development agenda presents a historic opportunity for businesses to engage more deeply as a strong and sustainable positive influence on society said Peter Bakker President and CEO of the World Business Council for Sustainable Development Malcolm Preston PwC s Global Sustainability Leader said that sustainability is no longer seen as a peripheral green issue and stated that it will be essential for businesses to determine the requirements of them access the right skills and develop the right tools to meet the goals But he emphasised that responses had to begin at a strategy level assessing impact planning operational change and working out how to report on compliance International companies will have to get to grips with the different requirements and priorities in different nations as well as the policies in place to implement them It is notable that changes related to the SDGs may cross the tenure period of multiple CEOs before the goals become business as usual so clear core strategic direction will be essential to success Survey shows engagement but little direction PwC s survey aimed to discover how engaged and prepared businesses are for the SDGs The results demonstrated that while there is good awareness that at many

    Original URL path: http://www.pwc.com/gx/en/services/audit-assurance/corporate-reporting/world-watch/survey-shows-two-thirds-of-businesses-already-taking-action-over.html (2016-02-10)
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  • World Watch | Dodd Frank compensation committees: PwC
    companies adopted clawback policies after the Sarbanes Oxley Act was passed in 2002 and include some degree of pay versus performance information in their CD A the requirement to disclose the CEO pay ratio is likely a new concept for most organizations The landscape of executive compensation continues to evolve with the release of the final CEO pay ratio rules and the proposed rules on clawbacks and pay for performance said Brandon Yerre a principal in PwC s Human Resource Services practice These changes continue to place heavy focus on executive compensation and the role of compensation committees and their advisors will be ever more important in the ongoing governance of this important topic Compensation committees should be diligent in ensuring that roles and responsibilities around governance of executive compensation are clearly defined and delegated as appropriate Yerre added CEO pay ratio The final rule which was approved by the SEC on August 5 requires disclosure of the ratio of CEO pay to median employee pay The rule requires a company to disclose The CEO s annual total compensation The median employee s annual total compensation The ratio of these two amounts This disclosure is intended to provide shareholders with information they can use to evaluate a CEO s compensation Disclosure of the pay ratio will be required in registration statements proxy and information statements and annual reports that call for executive compensation disclosure Companies will be need to disclose their pay ratios for their first fiscal year beginning on or after January 1 2017 The rule also allows flexibility in the computation of the ratio Click here for more information Companies should consider turning this compliance exercise into an opportunity to analyze information regarding their workforce Yerre said The collection or even sampling of employee compensation data provides a unique opportunity to assess additional items such as workforce productivity cost of employee turnover alignment cost of incentives across varying geographies or business functions Several organizations are concerned with the new requirements including the US Chamber of Commerce that commented While the SEC and Congress have acknowledged that disclosures need to be modernized this only exacerbates the problem and makes the public markets less attractive to investors and companies This rule is more harmful than helpful and we are disappointed that the SEC ignored suggestions for improvement We will continue to review the rule and explore our options for how best to clean up the mess it has created Pay versus performance In April the SEC proposed rules to require companies to disclose the relationship between executive compensation and the financial performance of a company The SEC believes its proposed rules will provide greater transparency and allow shareholders to be better informed when they vote on directors and executive compensation plans While many companies already disclose pay performance information in their SEC filings compliance with the disclosure rule as proposed will likely cause companies to change how they have made their calculations Companies would be required to present the new

    Original URL path: http://www.pwc.com/gx/en/services/audit-assurance/corporate-reporting/world-watch/dodd-frank-compensation-committees.html (2016-02-10)
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  • Steel market 2025: Quo vadis?: PwC
    Alumni Member firms worldwide Live events and discussions Strategy Research insights View featured Browse by issue Browse by industry Browse by service Monthly highlights Spotlight The CEO agenda CEO insights blog Careers About PwC Technology careers Employer of choice Our history PwC Professional Employability Aspire to lead PwC s series on leadership and gender equality Country job search Explore careers with Strategy Press room Facts and figures Press contacts Analyst relations Global International PwC Sites Commonly visited PwC sites Global Australia Brazil Canada China Hong Kong France Germany India Italy Japan Mexico Middle East Netherlands Russia Singapore South Africa South Korea Spain Sweden Switzerland United Kingdom United States Complete list of PwC territory sites Steel market 2025 Quo vadis Download Steel in 2025 quo vadis Steel market 2015 Steel 2025 Quo vadis which provides an outlook of the steel market to 2025 and highlights the strategies for success in a competitive global environment In this year s steel forecast we expect global demand for steel to be approximately 2 35 billion tonnes by 2025 That is two percentage points down from the previous year s forecast 2 39 billion tonnes and is equivalent to an average global growth of 3

    Original URL path: http://www.pwc.com/gx/en/industries/metals/publications/steel-market-2015.html (2016-02-10)
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  • Develop your risk advantage: PwC
    the speed business demands today Our approach helps business leaders embed a proactive and dynamic risk management capability and mindset into corporate business practices starting from the onset of strategic planning and extending through implementation This enables you to embrace risk and regulatory management as dynamic tools to help pursue success as smoothly systematically and sustainably as possible in the face of changing markets technologies and competition We are where you are our global network of professionals on the ground understands your country and your risks as well as those in markets that are important to you Our depth gives you insight our sector and regulatory professionals around the world proactively track and monitor trends and emerging risks and regulations globally We bring you this insight so that you can strengthen your strategic planning with activities like impact analysis contingency planning or opportunity identification Contact us for more information on how we can help you manage risk to your advantage Related thought leadership Sharpening strategic risk management Risk and growth but not as we know them How the strongest supply chains protect what customers cherish most The business environment over the past several years has significantly pressured companies to deliver on their strategic priorities with little tolerance for significant deviations from plan Good risk management allows companies to both execute against their plans and adjust to market risk and conditions when slight deviations are indeed needed Businesses with effective risk management functions will be able to move quicker and more surely through uncertain times than those with ineffective programmes They have the ability to make increasingly complex decisions in compressed time frames with greater confidence and clarity Develop your risk advantage with PwC Every important business result has a cascading impact across the organisation Our multi competency approach and integrated business thinking help you foresee upfront where the bumps in the road might occur We help show how to make better faster more agile decisions at the speed business demands today Our approach helps business leaders embed a proactive and dynamic risk management capability and mindset into corporate business practices starting from the onset of strategic planning and extending through implementation This enables you to embrace risk and regulatory management as dynamic tools to help pursue success as smoothly systematically and sustainably as possible in the face of changing markets technologies and competition We are where you are our global network of professionals on the ground understands your country and your risks as well as those in markets that are important to you Our depth gives you insight our sector and regulatory professionals around the world proactively track and monitor trends and emerging risks and regulations globally We bring you this insight so that you can strengthen your strategic planning with activities like impact analysis contingency planning or opportunity identification Related thought leadership Building a risk resilient organisation In the current and likely foreseeable environment of rapidly shifting and often disruptive trends enterprise resilience entails not only preparing for risk

    Original URL path: http://www.pwc.com/gx/en/services/advisory/consulting/risk/decision-making-strategy-execution.html (2016-02-10)
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  • Manage financial risk: PwC
    cash flow and manage risk to establish financial stability and maximise value for stakeholders Leading companies gain economic resilience by starting with their value drivers strategic objectives and risk appetite They put in place people processes and technology so they can leverage financial risk management to identify new opportunities and pursue them systematically Develop your risk advantage with PwC Every important business result has a cascading impact across the organisation Our multi competency approach and integrated business thinking help you foresee upfront where the bumps in the road might occur We help show how to make better faster more agile decisions at the speed business demands today Our approach helps business leaders embed a proactive and dynamic risk management capability and mindset into corporate business practices starting from the onset of strategic planning and extending through implementation This enables you to embrace risk and regulatory management as dynamic tools to help pursue success as smoothly systematically and sustainably as possible in the face of changing markets technologies and competition We are where you are our global network of professionals on the ground understands your country and your risks as well as those in markets that are important to you Our depth gives you insight our sector and regulatory professionals around the world proactively track and monitor trends and emerging risks and regulations globally We bring you this insight so that you can strengthen your strategic planning with activities like impact analysis contingency planning or opportunity identification Contact us for more information on how we can help you manage risk to your advantage Related thought leadership Is Treasury the hidden jewel in resilience planning Transforming Treasury Successfully executing a strategic transaction PwC Global Economic Crime Survey 2014 Consulting Strategy Operations Enable growth Drive profitability Fulfill corporate responsibilities Build agility and resiliency

    Original URL path: http://www.pwc.com/gx/en/services/advisory/consulting/risk/financial-risk-management.html (2016-02-10)
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  • Enterprise resilience: Anticipate and react to change: PwC
    to change and proactively building effective processes and infrastructure to manage it It means exploring and adopting tools to identify and manage emerging risks and developing enterprise wide responses to emerging threats and potential crisis scenarios And if the worse should happen business resilience gives confidence to manage crisis situations and mitigate financial loss and or reputational damage Develop your risk advantage with PwC Every important business result has a cascading impact across the organisation Our multi competency approach and integrated business thinking help you foresee upfront where the bumps in the road might occur We help show how to make better faster more agile decisions at the speed business demands today Our approach helps business leaders embed a proactive and dynamic risk management capability and mindset into corporate business practices starting from the onset of strategic planning and extending through implementation This enables you to embrace risk and regulatory management as dynamic tools to help pursue success as smoothly systematically and sustainably as possible in the face of changing markets technologies and competition We are where you are our global network of professionals on the ground understands your country and your risks as well as those in markets that are important to you Our depth gives you insight our sector and regulatory professionals around the world proactively track and monitor trends and emerging risks and regulations globally We bring you this insight so that you can strengthen your strategic planning with activities like impact analysis contingency planning or opportunity identification Contact us for more information on how we can help you manage risk to your advantage Related thought leadership How can resilience prepare companies for environmental and social change The RISE initiative Disaster risk sensitive investments Five traits that might indicate you re a resilience builder Consulting Strategy Operations

    Original URL path: http://www.pwc.com/gx/en/services/advisory/consulting/risk/enterprise-resilience.html (2016-02-10)
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