Corporate Security

Corporate security identifies and effectively mitigates or manages, at an early stage, any developments that may threaten the resilience and continued survival of a corporation. It is a corporate function that oversees and manages the close coordination of all functions within the company that are concerned with security, continuity and safety.

Physical security describes measures that are designed to deny access to unauthorized personnel and intruders from physically accessing a building, facility, resource, or stored information; provides guidance on how to design structures to resist potentially hostile acts, triggers appropriate incident
responses. Physical security can be as simple as a locked door or as elaborate as multiple layers of barriers, armed security guards and guardhouse placement. A well designed physical security system and its layers, ensure that the likely costs of attacks does not exceed the value of making the attack, which is important for the sustenance and profitability of every organization.

Corporate governance: Corporate governance is "the system by which companies are directed and controlled" (Cadbury Committee, 1992). It involves regulatory and market mechanisms, and the roles and relationships between a company’s management, its board, its shareholders and other stakeholders. Much of the contemporary interest in corporate governance is concerned with mitigation of the conflicts of interests between stakeholders. Ways of mitigating or preventing these conflicts of interests include the processes, customs, policies, laws, and institutions which have impact on the way a company is controlled.

There has been renewed interest in the corporate governance practices of modern corporations, particularly in relation to accountability, since the high-profile collapses of a number of large corporations during 2001-2010, most of which involved accounting fraud. Corporate scandals of various forms have maintained public and political interest in the regulation of corporate governance.

A related but separate thread of discussions would focus on the impact of a corporate governance system on economic efficiency, with a strong emphasis on shareholders' welfare, accountability of people in the business, and mechanisms that try to decrease the principal–agent problem.

Another major goal is to regain public confidence in the reliability of financial markets in the wake of corporate scandals. “Fraud deterrence is the proactive identification and removal of the causal and enabling factors of fraud.

A streamlined discussion on how business houses comply with ethics to detect fraud and implement control measures to combat the same, along with the positive effects and outcomes of being ethical, humane and considerate would focus on how to maintain equilibrium in the organization and detect fraud in an effective and timely way.


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