Hirslanden Group's Corporate Governance
Corporate governance stands for all the principles related to promoting the interests of a company in a sustainable manner. These principles target both a transparent relationship and an appropriate balance between management and supervision. Successful implementation of these principles (good corporate governance) strengthens Hirslanden Group's reputation as a law-abiding and trustworthy company.
Legal & Compliance
Hirslanden Group's internal legal department makes a significant contribution to adhering to good corporate governance. It provides its supportive contribution in all areas of the company; whether through the provision of legal advice in contract management or in process control.
Another essential component of good corporate governance is compliance. It stands for proper compliance with legal, regulatory and internal requirements. The Compliance Department, together with all of Hirslanden Group's employees, ensures these requirements. The aim is to avoid conflicts of interest, to create transparency and to establish guiding principles in such a way that even unintended breaches of rules are avoided. Compliance also shapes Hirslanden Group's corporate culture and contributes to the Swiss healthcare system by building confidence.
Internal developments and external implications constantly change the framework conditions affecting the Hirslanden Private Hospital Group. Even though this provides new opportunities, it also involves new risks which must be actively managed. Hence, Hirslanden PLC's Risk Management aims to recognise potential risks early on, assess them and take appropriate action to avert imminent damage for the organisation.
To meet this objective, Hirslanden PLC's risk management process was specially designed to ensure that complementary approaches are employed in all business divisions and units (Hirslanden Group, Corporate Office and hospitals) to validate strategic, financial and operative risks and their controls. This includes reporting of group-wide surveys, risk and control inventories as well as adhoc risk incidents for the attention of the management.
Hirslanden PLC's Internal Audit mandate is based on regulations of the existence of an internal control system, required compliances with standards such as REKOLE®, group-wide guidelines on the permanent functioning of control mechanisms and other drivers. Hereby, Internal Audit carries out risk-oriented audits independently as well as jointly with representatives of other Mediclinic platforms and the main shareholder's internal auditors on the basis of the Combined Assurance Model.
Internal Audit provides independent, objective auditing and advisory services to generate added value and improve business processes, which in turn helps the organisation to achieve its goals. By establishing a systematic and targeted approach, the efficacy of the governance, risk management and internal management/control processes is assessed and significantly improved as well.