It comprises two elements:

• Governance Risk Identification: Identifying material corporate governance risks and compiling a preliminary corporate governance profile of the company.
  
  
• Risk Management Evaluation: Assessing and rating the quality of corporate governance policies, management controls, performance, and disclosure.

Once DNV has prepared and agreed on an assessment plan with your company, we undertake the Governance Risk Identification. We then submit a due diligence and information request to your company. Our team of experts will review information at your company's premises before interviewing senior executives and other relevant individuals.

DNV completes the Risk Management Evaluation and drafts an assessment report which is discussed with your company. Your feedback is incorporated as appropriate, and a final report is submitted to our internal assessment committee for approval. It is presented in confidence to your company; publication of the assessment is at your company's discretion.

Timing from initial scoping to delivery of the assessment report is 4-6 weeks.

Governance assessments are based on detailed questions, derived from an extensive review of international corporate governance guidelines, best practice examples, the writings of governance experts and national corporate governance codes. The questions cover 20 key governance issues, grouped into seven areas.

The questions are answered and scored to reflect the quality of your company’s governance structure and practices, such as the strength of your policies, implementation processes, controls and performance. The final rating is a mathematical derivation of the weighting and scoring of each question. The rating is on a scale from 1 (lowest) to 10 (highest).

You receive a comprehensive report on the quality and effectiveness of your board’s management and reporting of corporate governance risks. The report includes individual sub-ratings and analytical commentary for each of the seven areas as well as an overall rating. You decide whether you would like to publish the report or whether you wish to only use it internally to strengthen your governance performance.

DNV operates under a non-disclosure agreement.

Find out what we have to offer you by going to Why partner with DNV.