Do people in your organization worry about saying too much, too little or the wrong thing? The risks of disclosure (and nondisclosure) are intensifying with new regulations on what we say, how we say it and when. New communication channels also mean more people are speaking, and speaking more often.
Disclosure controls and procedures (DCPs) have been a cornerstone of financial certification for public companies in North America for the past 20 years. Today, emerging pressures are making it more important than ever to revisit them:
- ESG reporting: Pressure on ESG disclosures, both for and against, has grown sharply from investors, activists, employees, regulators and banks.
- Social media: Everyone now has their own “public,” changing how quickly information is released and spread.
- Other emerging themes: Cybersecurity reporting, DEI and, before long, AI are all feeding into the disclosure landscape.
Without a fresh approach, leadership teams and boards face the risks of late filings, PR disasters and missed opportunities. Yet not all internal control programs assess disclosure controls as well as they should.
In this short video, I share two tools we use extensively with clients to strengthen DCP programs:
1. Disclosure Control Review Template
- A simple starting point for your DCP assessment.
- Covers key areas such as a disclosure committee, an inventory of reporting requirements, a standard reporting package, assigned responsibilities, a Disclosure Policy and insider management protocols.
2. Disclosure RACI Matrix
- A practical way to inventory your disclosure obligations and the roles involved (Responsible, Accountable, Consulted, Informed).
- Helps you get organized on what needs to be released, when, and who needs to be involved.
- Valuable for organizations of any size, including smaller ones with fewer people in the process.
Watch the video below to see how it works. 👇