Corporate Governance System Certification (CGSC)
Corporate Governance System Certification (CGSC) is granted to companies that demonstrate compliance with regulatory and stakeholder requirements. Cognicert provides this certification as a credible tool to show that your company meets major criteria and conforms to corporate governance codes, regulatory requirements, and international best practices.
CGSC is applicable to any organisation, regardless of size, seeking to improve company value, cost efficiency, internal connectedness, and relationships with investors and customers. With this certification, companies demonstrate compliance with specific corporate governance requirements such as:
- The context of the organization
- Board role and responsibilities
- Leadership and independence
- Corporate and remuneration structure
- Code of Business Conducts and Ethics
- Regulatory reviews
- Corporate culture
- Ethical values and standards
- IT governance
- Risk oversight
- Succession planning, appointment process, and training mechanism
- Compliance and control structure
- Anti-bribery and anti-corruption policies
- Policies on insider trading and conflict of interest
- Management of OHS, environmental, and quality risk
- Shareholder rights
- Monitoring and reporting
- Financial, governance, and system audit processes
- Corrective actions
The full criteria for CGSC are designed with consideration of industry regulatory requirements, international and local codes of corporate governance, and relevant best practices. Full requirements will be made available to interested clients.
Benefits of CGSC
The benefits of this certification scheme include:
- Greater efficiency, accountability, and ownership by members of the Board and top management.
- Improved relations with investors due to enhanced board understanding of corporate governance.
- Improved transparency and integrity of information among stakeholders.
- Better strategic and operational direction toward organisational objectives.
- Shift from compliance mentality to strategic process and system development.
- Identification and adoption of best practices from successful Boards.
- Development of a positive and ambitious Board culture.
- Greater mitigation of risks and unethical practices.
- Strengthened corporate accountability and business sustainability.
- Institutionalisation of corporate governance best practices.
- Promotion of public awareness of essential corporate values and ethical practices.
- Enhanced public trust and confidence, facilitating increased trade and investment.
- Achievement of business goals and positive societal contribution.
- Alignment of Board and management interests with shareholders and stakeholders.
- Promotion of compliance with regulatory requirements and corporate governance codes.
- Commitment to customer satisfaction.
- Ensuring confidentiality and impartiality.
CGSC Certification Audit and Maintenance
CGSC Certification is granted by Cognicert upon verification through a structured audit that your organization has fulfilled the essential requirements. The certification is maintained through scheduled annual surveillance audits, with full recertification conducted every three years.
Becoming an Authorized CB
Are you interested in becoming an authorized CGSC Certification Body? More information about the application process is available upon request.
Note: It is not permitted to promote or sell CGSC services without a signed partnership agreement with Cognicert Limited UK.
Contact us to find out how we can assist you in attaining CGSC Certification.