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Asset management Asset management of the futureIn today’s global asset management landscape, there is an almost constant onslaught of change and complexity. To combat such complex change, asset managers need a consolidated approach. Read our publication and find out more about what you can achieve by choosing to work with us.
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Internal Audit Maintaining Compliance with New EU Pension Directive IORP IIOn 28 April 2021, the Irish Government transposed IORP II (Institution for Occupational Retirement Provision), an EU directive on the activities and supervision of pension schemes, into law.
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Risk, Compliance and Professional Standards FRED 82 – Periodic Updates to FRS 100 – 105The concept of a new suite of standards for the UK and Ireland, aligning with international financial reporting standards, was first conceived in 2002
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Audit and Assurance Auditor transition: how to achieve a smooth changeoverAppointing new auditors may seem like a daunting task that will be disruptive to your business and a drain on the finance function. Nevertheless, there are a multitude of reasons to consider a change, including simply seeking a ‘fresh look’ at the business.
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Over the last year there has been a notable push in a range of organisations to put Diversity and Inclusion (D&I) at the forefront of the cultural agendas. Momentum has been building over the past decade, proving that D&I is become more than just a workplace fad, and for many companies it has become the foundation from which their organisations are built.
Take Apple for example; their current CEO Tim Cook became the first chief executive of a Fortune 500 company to publicly come out as gay. Apple was already doing exceptionally well when Tim became CEO in 2011. Steve Jobs passed the baton to Tim to steer Apple into the next course of its journey without him. And Apple has since gone from strength to strength, share prices well exceeding that of Steve Jobs leadership.
So, what is the secret ingredient to Apples success according to the CE? Tim Cook puts it down to a very diverse and inclusive workforce, being an organisation that genuinely celebrates diversity, encourages inclusivity and allows people to express themselves creatively.
Apple’s success due to a diverse and inclusive workforce is not an exception, in fact a recent study conducted by McKinsey shows that:
The evidence is compelling - when companies commit themselves to a diverse workforce, they are more successful. Diverse companies are not only reaping the rewards in terms of profit and productivity, but also more attractive to top talent. D&I also improves their customer orientation, employee satisfaction, and decision making, and all of this leads to a virtuous cycle of increasing returns.
Organisations must do more to take full advantage of the opportunity that diverse workforces represent. In order for the organisations to stay relevant, retain staff, attract top talent and bring forward the next generation of successful leaders, they must diversify their teams and become more inclusive.
A great quote from Verna Myers really highlights the importance of combining both diversity and inclusion, they both work in cohesion with one another to bring success, she says; ‘Diversity is being asked to the party, inclusion is then being asked to dance.’
It’s important now more than ever that the workplace is somewhere where people feel safe, and not afraid to be themselves. Now is the time for all organisations to assess where they are in terms of D&I, and if they don’t already have one, create a Diversity and Inclusion policy. And given the higher returns that D&I brings, we believe it is a smart investment that will pay dividends. https://www.mckinsey.com/business-functions/people-and-organizational-performance/our-insights/why-diversity-matters