Corporate Governance Practices at SNC-Lavalin

Running head: CORPORATE GOVERNANCE
Corporate Governance
NAME OF STUDENT:
NAME OF COLLEGE:
AUTHORS NOTE:

CORPORATE GOVERNANCE
Contents
Introduction......................................................................................................................................2
Evaluation........................................................................................................................................2
Conclusion.......................................................................................................................................4
References........................................................................................................................................5
1

CORPORATE GOVERNANCE
Introduction
Corporate Governance is defined as the mechanisms, processes and relations by which
organizations are controlled and directed. Corporate Governance has become an indispensable
element for modern day organizations in order to accomplish their goals and objectives. This
report focuses on the corporate governance practices which are being followed at SNC-Lavalin,
which has helped the company to become one of the most reputed companies in the world in
terms of corporate governance.
Evaluation
Strong corporate governance at SNC-Lavalin begins with the Board of Directors of the firm and
its members who supervise administration of the enterprises corporate purposes and proceedings.
The main duties and areas of responsibilities of the Board of Director of the company is
overseeing the board and senior management, maintaining analytical administration and control,
risk assessment, maintaining corporate governance, ethics, norms and process, declaration to
shareholders and other stakeholders of the company, maintaining collateral affairs and internal
administration, health and safety, safeguard and surveillance and common level liabilities
applicable to company and process and governing conduct. As stated by Todorovic (2013) the
governance and ethics committee support the Board of Directors in framing approach of the firm
towards corporate governance, ethical and compliant concerns by suggesting new Board
representatives and analysing efficaciousness of board and its various councils, their concerned
chair and specific directors. The House of Policies of the company strengthens the corporate
governance of the company by overseeing the standardization of policies and processes in terms
of their issuance, approval and application. The Policy Oversight committee of the company
helps in establishing good practices in policy governance and it meets on a monthly basis in
order to review any new and revised policies and procedures.
As opined by Cosneanu et al. (2013) the company strives to embed its culture and vales in
everything what it does which consist of proposition of strong governance. As a part of the HR
governance of company, the Executive Vice-President of HR get involved in executive council,
ethics and accession council and Human Resource Council of Board of Directors of the
2