Tricor Roots Newsletter July 2013 · 3/7/2016  · Welcome to the July 2013 edition of Tricor Roots InTouch. This Newsletter is aimed at keeping our Clients, Partners & Associates

Welcome to the July 2013 edition of Tricor Roots InTouch. This Newsletter is aimed at keeping our Clients, Partners & Associates updated on what is happening in the world of Enterprise Governance.

In this month’s edition, we look at one of the key elements of Risk Management – having a structured Incident Reporting process as a feedback mechanism on risk occurrence and impact. The key questions to be asked is whether

1. The need for Incident Reporting

Incident reports are one of the most important forms of documentation for a corporation to employ in their

day to day operations for a multitude of reasons. Whether reporting an instance of employee injury, property

damage, improper conduct, security breach, fraud or other reasons, it is increasingly important for a

corporation to keep an effective Incident reporting process. Some of the key benefits include:

a. Provide valuable feedback to risk assessments. One of the primary challenges is that risks may be assessed on an overly optimistic basis. Having effective Incident reporting enables risks to be objectively tracked for occurrence and impact.

b. Avoiding unnecessary fines and claims where there is appropriate documentation in place, along with mitigation plans. This is particularly important if incident reporting is regulated, such as in the case of Medical Care providers.

MALAYSIAJuly 2013

Tricor Roots InTouch Newsletter

The Business Enablers

Member of Tricor and The Bank of East Asia Group

Tricor Roots Consulting Sdn Bhd

Organizations need an incident reporting process, and to what extent it is required.

We hope you enjoy this Newsletter, and as always, please do not hesitate to contact us should you have any queries. We love to hear from you.

Your Trusted Consultant,

Tricor Roots Consulting Executive Team

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c. Captures intelligence for Prevention Strategies – this includes identifying gaps in the existing business processes and provide opportunities for improvements in efficiency and quality

The challenge for Organizations is providing an efficient mechanism by which Incidences are reported

without being seen or felt as a burden to the employees. For this to work there must be a number of

strategies in place which includes efficient reporting channels (including technology) for simple and efficient

reporting of incidences. Critically, incidences must lead to feedback and improvement over time.

2. AirAsia, winner of the Skytrax World’s Best and Asia’s Best Low Cost Airline for five consecutive year, selects Q-RADAR to automate and enhance the Risk Management & Business Continuity Management Process.

2 Tricor Roots InTouch Newsletter • July 2013

As part of its journey for excellence in Enterprise Risk

Management & Business Continuity Management, AirAsia has

selected the Q-RADAR system from Tricor Roots Consulting to

automate and enhance its Risk Management & Business

Continuity Management Framework. A critical element of the

engagement is to implement a flexible system to identify,

monitor & manage key strategic risks across the Group, whilst

providing flexibility to consistently identify new opportunities.

In addition, having a dynamic and easily accessible Business

Continuity Management process with effective Business Impact

Analysis (BIA) and Business Continuity Plans (BCPs) is an

essential element in running the World’s Best Low Cost Airline.

3. Critical Emerging Strategic Performance & Risk Issues

To better support our clients, we have outlined below recent global strategic performance and risk issues.

The information contained is based on sources we believe to be reliable, but we do not guarantee its

accuracy. Tricor Roots Consulting does not have any ownership over this information, nor does it represent

our opinion.

Tricor Roots Consulting is proud to assist AirAsia

on its ongoing ERM & BCM program.

AirAsia was established in December 2001 as a

pioneer in the low-cost carrier industry in Asia,

and is now regarded as one of the leading

Global Airlines.

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Outline

SHAH ALAM: Company directors and chief executive officers (CEOs) may

soon find themselves liable if their employees are found to have committed

graft, said Minister in the Prime Minister's Department Datuk Paul Low.

Low said the government plans to introduce a corporate liability law, where

the board of directors and CEOs would be held responsible for bribes given

by their employees unless they can prove that there are measures in place to

prevent corruption within the organisation.

"This is similar to the UK Anti-Bribery Act," he said, adding that directors of

public companies should start pushing for establishment of corporate

governance and integrity task force to complement their existing audit

committee.

"My advice to companies and their directors is to take heed of this and start

looking at the adequacy of their own corporate integrity systems to ensure

that internal controls are of a sufficient level so that even the courts will be

convinced that reasonable steps have been taken by the directors to

prevent bribery," he said.

Low was speaking at the closing of the Selangor State Development

Corporation (PKNS) Annual Integrity and Good Governance Conference

here.

To read more, click here

About Tricor Roots Consulting

Tricor Roots Consulting is an established and vibrant organization incorporated in 1999 with the mission: Sharing a Passion

for Excellence.

Our vision is to be a global consulting firm backed by innovative software solutions. We are highly focused towards

assisting Organizations and Individuals to achieve their potential for Excellence. Tricor Roots Consulting has vast experience

in providing training and consultancy services in the field of Governance, Risk & Compliance ("GRC") which includes

Performance Management advisory for numerous public listed and many more non-listed companies in the Asia Pacific

region from a diverse range of industries.

In addition, since the release of the Q-RADAR System in September 2001, over 400 companies in the Asia Pacific region

have successfully leveraged on the system as part of the Performance Management & Risk Management Framework

Implementation.

For more information, please log on to www.tricor-roots.com.

Tricor Roots Consulting is part of the Tricor Group of companies. To find out more, go to www.tricorglobal.com.

Headlines

Malaysia: Law in

pipeline to make

CEOs liable for

corruption among

staff

By Teh Eng Hock,

http://www.thestar.com.my

July 8,2013

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