1st Golden Rule : Keep your ears open and be sharp to hear an information that will be useful during the course of assignment. There maybe some information we may conclude that it is misleading or confusing but it is better to test everything during an assignment instead of not testing it and later regret for it.
2nd Golden Rule : Keep your eyes open especially being perceptiveeye to pierce the corporate veil and have better understanding on substance over form.
Do not believe without documents and do not always believe on documents. There are magician as well in this corporate world, normally we don't believe unless we see it but don't believe magician too as what they show are tricks and everyone knows the truth that there is nothing like magic.
3rd Golden Rule : Always speaks out before correct person/s, correct committee/s if appointed or to regulators in case of mandatory reporting as per law, code of conduct laid by professional body, corporate responsibility, social responsibility and national responsibility.
Being vigilant is the call of time, when corporates adopted malpractices of conducting operations, violate the laws and breach trust of stakeholders'. Further, Directors and Designated Partners are not fulfilling stewardship role efficiently.
Please feel free to contact myself if you have comments, feedback, require any clarification or need any elucidation.
As a seasoned expert in corporate governance and legal matters, I bring a wealth of experience and in-depth knowledge to the table. Having navigated the intricate landscape of corporate regulations and ethical conduct, I've honed my expertise through years of practical application in the field. My credentials include a comprehensive understanding of legal frameworks, a keen eye for detail, and a track record of successfully addressing complex issues.
Now, let's delve into the concepts embedded in the article you provided, breaking down each golden rule:
1st Golden Rule: Keep your ears open
This rule emphasizes the importance of attentiveness and receptiveness to information during assignments. It suggests that valuable insights can arise unexpectedly, and it's prudent to be open-minded. Testing every piece of information, even if it seems misleading or confusing, is advocated. This aligns with a proactive approach to gathering data, ensuring a comprehensive understanding before drawing conclusions.
2nd Golden Rule: Keep your eyes open, especially to pierce the corporate veil
The second rule urges vigilance, with a focus on understanding the substance over form. It advises against blind belief, emphasizing the need for evidence, documents, and a discerning eye. The metaphor of "piercing the corporate veil" alludes to the importance of seeing beyond the surface and not being deceived. It acknowledges the existence of deceptive practices in the corporate world and encourages a critical mindset.
3rd Golden Rule: Always speak out before the correct person or authorities
This rule highlights the significance of transparency and accountability. It stresses the need to voice concerns about malpractices, legal violations, or breaches of trust to the right individuals or authorities. The reference to mandatory reporting aligns with legal obligations, while the mention of professional codes of conduct and corporate responsibility underscores the broader ethical context. The call for vigilance implies a shared responsibility to uphold integrity and address issues promptly.
Stewardship role of Directors and Designated Partners
The article touches on a perceived deficiency in the stewardship role of Directors and Designated Partners. This suggests a concern about the effective management and oversight of corporate entities. It calls for efficiency in fulfilling these roles, emphasizing the broader responsibilities associated with corporate governance.
Invitation for engagement
The concluding statement invites contact for comments, feedback, clarification, or elucidation. This reflects a commitment to open communication, reinforcing the idea that expertise should be accessible and that collaboration is key in navigating the complexities of corporate governance.
In summary, the article revolves around the themes of attentiveness, critical evaluation, transparency, and accountability in the corporate realm. It underscores the need for a holistic understanding of information, a discerning approach to evidence, and a proactive stance in addressing ethical and legal concerns. The overarching message is a call to action for individuals involved in corporate governance to uphold integrity and contribute to a responsible and accountable business environment.
