As corporate governance professionals the team at Lionheart Corporate Governance, are regularly engaging with Boards on the critical importance of cybersecurity. The recent surge in high-profile cyberattacks has highlighted the significant business risks posed by these threats, from financial loss and reputational damage to system downtime and customer attrition.

The Charities (Amendment) Bill 2023, emerging from extensive consultations within the charity sector, introduces several critical updates to the regulatory framework governing charities. These changes, aimed at enhancing clarity, accountability, and governance within the sector, also bring with them a varying degree of administrative implications for charities. We have set out our perspective on some the amendments as follows, focusing on their potential administrative burden and importance for streamlining compliance.

In our practice here at Lionheart Corporate Governance where we deal in the realm of modern governance, #ESG discussions reign supreme, significantly impacting investor relations and regulatory landscapes.

What we are seeing with Irish Board Directors seeking continuous professional development (CPD) or Effective Board Evaluations, is that they are honing in on the "S" in ESG—which represents the Social aspect—clearly at this point its become a strategic priority.

As we look ahead to 2024, it's clear that the corporate governance landscape is rapidly evolving. The trends that have shaped the past few years - from increased standards for sustainability reporting to rising gender diversity on corporate boards - are expected to continue, but with new challenges and opportunities on the horizon.

From December 17, 2023, The Protected Disclosures (Amendment) Act 2022 expands its reach to organisations with 50 to 249 employees.

This landmark legislation, enacted in January 2023, transposes the EU Whistleblowing Directive and mandates robust reporting channels for workers to safely disclose concerns about wrongdoing.

Previously, the Act's obligations applied exclusively to private sector organisations with 250 or more employees, along with public bodies and entities governed by specific EU regulations.

With the upcoming expansion, employers with 50 to 249 employees must now establish formal reporting procedures to safeguard whistleblowers.

The Act emphasises the confidentiality of whistleblower identities, ensuring that reporting individuals are not subjected to retaliation or dismissal.

It also broadens the scope of protected disclosures to include a wider range of wrongdoing, encompassing areas like environmental breaches and public health concerns.

Lionheart Corporate Governance is advising its clients whose obligations may come under the Act to thoroughly review their existing whistleblower policies to ensure compliance and alignment with the Act's requirements.

We frequently get asked to explain the Corporate Sustainability Reporting Directive (CSRD) to Boards of Directors.

The CSRD is a new EU law that will require large companies and listed SMEs to report on their sustainability performance. It is the biggest change in sustainability reporting regulation in over a decade, and it will come into force on a phased basis from January 2024.

In observance of Charity Trustees' Week, Lionheart Corporate Governance offers vital insights into the roles and responsibilities of charity trustees.

This snapshot underscores the significance of compliance and effective governance in the charity sector. It outlines key focus areas, including policy development, conflict management, and risk assessment. By leveraging Lionheart's extensive experience in charity governance, the piece provides actionable guidance for trustees. The article concludes with an offer for professional consultation from Lionheart, positioning it as a valuable resource for trustees seeking to enhance their organisations governance and legal adherence.

In our practice here at Lionheart Corporate Governance where we deal in the realm of modern governance, #ESG discussions reign supreme, significantly impacting investor relations and regulatory landscapes.

What we are seeing with Irish Board Directors seeking continuous professional development (CPD) or Effective Board Evaluations, is that they are honing in on the "S" in ESG—which represents the Social aspect—clearly at this point its become a strategic priority.

The Rules of Engagement

Some of you may be familiar of The Robert's Rules of Order ?

If you have attended a meeting no doubt you have come within their stated rules of engagement. They were written in 1876 and set the gold standard of how to proceduarly run meetings but how do they function as a best practises manual for boards in the contemporary, digital, and virtual era?

RECENT ENGAGEMENTS

November 2022

• Advising a National Charity in the Early Years’ Service Provider sector and other educational bodies and institutions on the preparation and implementation of Strategic Plan’s. Facilitating stakeholder engagement sessions and undertaking Board evaluation’s against the relevant Codes.

#boardevaluations #boards

Lionheart in the News

October 2022

The Government Legislation Programme for Autumn 2022

Cabinet has approved 38 bills for priority publication.

Lionheart - A recognised leader in the field of Board Evaluations.

September 2022

A key component of good governance is evaluating the effectiveness of the Board and making the necessary adjustments.

Additionally, both the Code of Practice for the Governance of State Bodies (2016) and the Charities Governance Code mandates it.

As a niche consultancy focused on Corporate Governance and Board Evaluations, Lionheart has carried out reviews and evaluations with excellent outcomes and added value for our clients accross the corporate spectrum.

“Its coming to that time of year once more where a lot of organisations are factoring in a Board Evaluation into to their Corporate Governance calenders”.

If you are considering such a review please contact us for details and or a quote at fiona@lionheart.ie or patrick@lionheart.ie

We would be delighted to have a chat with you about your requirements

GOOD NEWS

August 2022

Lionheart Delighted To Maintain It’s Rankings

As part of our client post engagement process, once assignments are completed we regularly undertake independent satisfaction surveys.

We are benchmarked against similar organisations operating and delivering services in the professional services arena and particularly in the area of Corporate Governance and Board Evaluations and Reviews.

Our recent results are once again reflecting very high satisfaction ratings against the global average and we are delighted that our partners and consultants are able to continue providing this independently verified level of service to our clients. #boardevaluations #boards

NEW DIRECTORS DUTIES - July 2022

The new director's duty is to, have regard to, inter alia, the interests of the company's creditors where a director believes, or has reasonable cause to believe, that the company is, or is likely to be, unable to pay its debts

Lionheart are delighted to become a member of Chapter Zero Ireland which is the Irish Chapter of the Climate Governance Initiative (CGI)– developed in collaboration with the World Economic Forum – Lionheart a recognised expert in the field of ESG has shared its experience with new and emerging directors’ climate forums around the world. Together, the CGI Chapters are supporting NEDs around CGI Charter the world to help address climate considerations in the boardroom. Each Chapter has signed up to the CGI Charter. The full list of Chapters can be found here.

An Online CPD Workshop designed to equip Non Executive Directors with a solid understanding of their Roles and Responsibilities as Company Directors

About this event

The module is designed to equip you to navigate Board meetings competently and add value to your participation during your tenure

An Online CPD Workshop designed to equip Charity Directors with a solid understanding of their Roles and Responsibilities as Trustees

About this event

The module is designed to equip you with the tools to navigate your Charity Board meetings competently

The hastily adopted Companies (Miscellaneous Provisions)(Covid-19) Act 2020 (the "Covid-19 Act") was one of the many pro-business measures of the Irish Government to the issues posed by the beginning of Covid-19 in 2020.

These statutory measures, which overrule a company's written constitution, were only implemented for a limited time and were set to expire on April 30, 2022 have now been extended by the Government until 31 December 2022

The Consumer Rights Bill 2022 Consolidates and updates existing consumer protection legislation that regulate the main types of consumer contract and introduces new and enhanced consumer protection measures. The Bill also gives effect to EU consumer rights Directives, namely:

(i) Directive 2019/770 on certain aspects concerning contracts for the supply of digital content and digital services;

(ii) Directive 2019/771 on certain aspects concerning contracts for the sale of goods; and

(iii) the main provisions of Directive 2019/2161 on the better enforcement and modernisation of Union consumer protection rules