Vigil Mechanism & Ombuds Services
Promoting effective corporate governance and risk management
Historically, corporate frauds have been largely uncovered based on whistleblowing tips. A Vigil Mechanism acts as an important tool to ensure that unethical practices are exposed, addressed appropriately and in a timely manner, and that frauds or potential frauds are detected well in time. The Companies Act, 2013 and SEBI LODR, 2015 mandate establishment of a vigil mechanism or whistleblower policy for certain classes of companies to report genuine concerns, unethical behaviour or suspected fraud.
TA's end-to-end vigil mechanism and ombuds solutions helps these and other organisations meet this requirement by ensuring synergies with the company's code of conduct and other relevant policies. This minimises exposure to damage from unreported and unethical conduct.
Our ombuds services have been supporting a cross-section of organisations ranging from large listed companies in the manufacturing and services sectors, with global operations and workforces, to private entities, educational institutions, trusts and foundations.
TA acts as external ombudspersons for these organisations with strict, pre-determined SLAs and assists them in setting up robust vigil mechanisms which includes a comprehensive review of the whistleblower policy.
Benefits of Engaging External Ombudspersons
Through in-depth engagement with whistleblowers, we gather relevant evidence and provide a preliminary assessment report (PAR). Based on the PAR clients determine how to deal with the complaint in accordance with the law, organisational policy and best practices.
Our tools are user-friendly for the client and whistleblower. Based on client needs we provide a dedicated email address where whistleblowers can submit complaints; a 24-hour globally accessible hotline with recording facilities; or digital tools for direct submission by the whistleblower with comprehensive tracking of the status of complaints.
Organisation that prioritise a strong vigil mechanism strategy demonstrate a commitment to governance, accountability, ethical conduct, risk management, stakeholder engagement and long-term sustainability.
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Contact us to learn how we can help you establish a robust Vigil Mechanism that safeguards your organisation and promotes a culture of transparency and accountability.
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