Ronald Reagan and the Belgian law dealing with subsidy conditions Ronald Reagan used this old Russian proverb (“Doveryai, no proveryai”) when referring to his relationship with the Russians in the context of the nuclear disarmament in the 1980’s. In essence, the proverb refers to the understanding that any agreement needs to be accompanied by some … Continue reading Trust, but verify
Category: compliance
Speaking about internal controls
Good governance, risk management and internal controls are essential to any organisation or group of organisations that deems itself mature. It's been a pleasure to speak about their relevance at the FGS Finance top 400 meeting on May 12th. 400 top managers of the FGS had come together for a day long discussion on the … Continue reading Speaking about internal controls
Compliance with rules and regulations depends on the perceived fairness of those rules and regulations
The challenge of compliance Compliance is a traditional challenge that has associated costs. Quite a few rules and regulations, whether internal to an organization or nation-wide as imposed by a government, are notoriously difficult or costly to ensure compliance with. Having a rule translated into a procedure somewhere in an ISO manual or a law … Continue reading Compliance with rules and regulations depends on the perceived fairness of those rules and regulations
Exploring The Black Box 