Whistleblowing Hotline Service
Companies listed on U.S. stock exchanges are required under the Sarbanes-Oxley Act to establish a system for employees to internally report concerns over questionable auditing or accounting matters. These systems are often referred to as "whistleblowing hotlines". In Singapore, the Code of Corporate Governance suggests that the Audit Committee should review arrangements by which staff of the company may, in confidence, raise concerns about possible improprieties in matters of financial reporting and other matters. These arrangements should also allow for an independent investigation on such matters and for appropriate follow up action.
Whistleblowing Hotline Service is an independent and anonymous hotline and disclosure service provided by STRB to eliminate dishonesty in the workplace. Management, employees and suppliers will be empowered to report inappropriate behaviours in an anonymous manner. These inappropriate behaviours may include corruption, fraud and other forms of dishonesty. It is a powerful and practical deterrent designed to protect the assets, bottom line and reputation of organisations.
Benefits of a whistleblowing programme
There are many benefits associated with a whistleblowing programme that is managed by a service provider who is independent to the organisation:~
- Immediate compliance with relevant Codes of Good Corporate Governance
- Simple, low-cost deterrent against inappropriate workplace behaviour
- Tangible demonstration to stakeholders of social commitment and culture of honesty and integrity
- Protection from negative publicity by allowing management to deal with issues internally
- Evidence of a tangible governance initiative that is integrally linked to the operations of the audit committee and the internal audit function
- Valuable management tool to complement an organisation's overall risk management strategy
- Dynamic and useful communication facility for employees not exposed to - or who feel uncomfortable using - formal communication channels
- Effective highlighting of poor control processes and weak internal control environments, allowing management and the internal audit function to better focus their efforts and resources
How to make a report?
We provide a unique website to allow employees to make confidential disclosures about their concerns in the workplace. The information requested will include specific facts such as dates, times, locations, people, amounts involved and any witnesses.
What will happen to the report?
This information is then forwarded to designated senior executives of your organisation without revealing the identity of the person who made the call.