Some 97% of business leaders recognise the importance of demonstrating their organisation’s commitment to operating with integrity. In the current business environment, every individual within the organisation, be it top management, board of directors, or employees at any level, assumes a vital role in managing governance risks and nurturing a strong organisational culture.
That key statistic, culled from a survey by a globally leading accounting firm, has now inspired True Corporation to introduce the ‘integrity hotline’, a critical mechanism in addressing risks and uplifting the governance standards within the organisation.
Fostering a Speak Up Culture
For businesses, maintaining integrity is not just a robust risk management strategy; it also serves as a significant predictor of future success. Upholding strong governance and ethical principles is vital in managing reputation, attracting top talents, and earning the trust of customers, employees, business partners, and society at large. However, operating with integrity demands a rigorous enforcement of rules and regulations, an effective risk management framework, and an organisational structure that fosters checks and balances.
After the amalgamation, True is fully committed to more comprehensive governance standards. As part of this commitment, the company has introduced the integrity hotline—an online platform that enables individuals to report any suspected behaviours or actions that violate the company’s Code of Conduct. The hotline is accessible to both employees and external parties, ensuring a transparent avenue to report any instances of wrongdoing or misconduct.
The integrity hotline serves as a crucial mechanism for the company to put its governance principles into action and cultivate a culture where employees at all levels feel confident and empowered to use the channel to speak up and report unethical behaviours.
Whistleblower Averts Crisis
An essential aspect of fostering a speak up culture and upholding good governance lies in ensuring trust and confidence for ‘whistleblowers,’ as they play a crucial role in preventing undesirable incidents and mitigating potential damages before they escalate into crises. Recent scandals in the capital market have highlighted the critical importance of implementing a whistleblowing system and an anonymous reporting channel for those who wish to come forward with concerns or reports.
True’s integrity hotline is managed by EQS Group, a leading software provider in Europe with ISO 27001 standard on information security. Individuals reporting via the hotline have the option to remain anonymous, ensuring that their identity will remain confidential and their personal data, including staff ID, IP address, and email, will not be collected or tracked.
Four Steps to Fact-Finding
Trust forms the foundation of investigations and checks and balances. To instil trust among all parties involved, True has established an intensive, transparent, and fully independent framework that adheres to the guidelines of the Office of the Securities and Exchange Commission and the Dow Jones Sustainability Index (DJSI). When any suspected misconduct or wrongdoing is reported, the company follows a four-step approach:
Step 1 Risk assessment: This initial stage involves verifying the information received to prevent false reporting or any attempts to misuse the integrity hotline for sabotage.
Step 2 Categorisation: Once the investigation team confirms the credibility of the whistleblower’s information, the concerns reported through the hotline are categorised in accordance with the company’s policy. This categorisation assists in identifying appropriate solutions and engaging domain experts as needed, specific to the risk category.
Step 3 Fact-finding: A dedicated fact-finding committee is formed, also comprising individuals directly involved in the issue, who actively participate in the fact-finding process while upholding their independence. In certain instances, the involvement of credible and independent external experts is sought to enhance transparency and prevent any potential conflicts of interest.
Step 4 Report filing: After the case has been thoroughly reviewed and investigated, the committee will submit a report to the Disciplinary Action Committee (DAC) in order to identify appropriate measures for improving work processes as well as proposing disciplinary actions if the case entails violations of the company’s policy.
If you observe any irregularities, please do not hesitate to report them through True’s integrity hotline at https://truecorp.integrityline.com.