Corporate Governance System Certification (CGSC)

Corporate Governance System Certification (CGSC) is granted to the companies that demonstrate compliance with regulatory and other stakeholders’ requirements. Cognicert will provide this certification which is a useful tool to add credibility, by demonstrating that your company meets the major criteria and is in conformance with corporate governance codes, regulatory requirements and international corporate governance best practices. CGSC is applicable to any organisation irrespective of sizes to improve company’s value, cost efficiency, internal connectiveness, investors and customers relationship. With this certification, companies will show compliance with the specific requirements implemented in their organisation, 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 Standard
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

Full Criteria for the CGS Certification is designed taking cognizance of relevant industry regulatory requirements of the auditee, international and local codes of corporate governance as well as International and local corporate governance best practices. The full requirement will be made available to interested client.

Benefits of CGSC

The benefits of this new certification scheme are to:

Greater efficiency, accountability, and ownership by members of the Board and other top management.
Improved relations with investors and prospective investors because of the board members’ in-depth understanding of corporate governance.
Improved transparency and integrity of information among and from all stakeholders.
The better strategic and operational direction towards the achievement of organisational objectives.
Shift from a mere compliance mentality to a strategic, well-suited approach to defining processes and systems.
Identification and implementation of best practices of other successful Boards
A positive and ambitious Board culture
Greater mitigation of risks and unethical practices
Drive corporate accountability and business prosperity.

Institutionalize corporate governance best practices in companies.
Promote public awareness of essential corporate values and ethical practices that will enhance the integrity of the business environment.
Build public trust and confidence in the company, thus facilitating increased trade and investment.

Achieve business goals and contribute positively to society.
Align the interests of the Board and management with those of the shareholders and other stakeholders.
Promote compliance with regulatory requirements and corporate governance codes of regulatory agencies.
Committed to customer satisfaction
Ensuring confidentiality and impartiality

CGS Certification is granted by Cognicert, upon verifying through an audit that the organization has fulfilled the considered essential requirements. This certification is then maintained through scheduled annual surveillance audits by Cognicert with re-certification of the Corporate Governance System performance on a triannual basis.

Becoming an Authorized CB

Are you interested in becoming a authorized CGS Certification Body? Please find more information about the application process. Be aware: It is not allowed to promote or sell CGS services without a signed partnership agreement with Cognicert Limited UK.