It wasn’t a long time ago when the term “corporate governance’ started to become more popularly used. Since then, many auditors have begun to offer corporate governance in Canada. Most of these firms provide corporate governance services focusing on supporting the internal controls and financials of a business.
Today, many corporate governance services relate to management and compliance processes. Corporate governance consulting companies would provide consulting services helping companies stay up to date in the world of corporate governance, get third party assessment on your board, and gain maximum value from them.
With the increasing need for corporate governance services, it goes to say that the number of and types of companies offering them have increased as well. While having plenty of choices is excellent, deciding which one to hire becomes hard. That being the case, this article tries to put a list of things to look for and consider when looking for a corporate governance expert in Canada.
An array of Services provided in the Corporate Area
Consider the range of services the firm offers and if its primary area of expertise is corporate governance. There are different services a consultant firm provides, which may use varying approaches such as assessment of overall governance effectiveness, risk management, compliance, executive compensation, etc. Think about what your Board needs when you make your choice.
Background and Experience of the Corporate Governance Consultant
When hiring a corporate governance expert in Canada, the experience and background of the consultant are two of the critical things that will help you make your decision. Did they have legal training, audit expertise or risk management knowledge? Were they experienced in human resources or management consulting? Experience and knowledge on these things help assure you that you are hiring a true professional.
Approach to Conducting Board Evaluations or Governance Reviews
You should also take the consultant or the firm’s approach to conducting board evaluations or governance reviews. Do they use tailored questionnaires or online responses? Do they conduct assessments by comparisons of trends or peers? No matter the type of approach they use, it’s important to know them beforehand to ensure they suit your company’s needs.
Willingness to Tailor their Approach
When hiring a corporate governance consultant Canada, it’s great to choose one who is willing to tailor their approach to meet the needs or expectations of your company. It would be great to work with a flexible firm or consultant as it would significantly diminish the hassle along the way. Moreover, it means you won’t have to look for other firms or consultants as is usually the case with a consultant who isn’t open to tailoring their service.
These are the top factors to consider when looking for a corporate governance consultant in Canada. Keeping these in mind, you will be able to search for the ideal expert to help with your board evaluations, corporate reviews, and effectiveness studies, for the good of the company. Visit http://www.chairmanofboard.com to book an appointment today.