The corporate governance guidelines in Thailand highlight that the board should establish a mechanism for handling complaints and whistleblowing:
6.5.1 The board should oversee that an effective mechanism is in place to record, track, resolve, and report complaints and feedback. The board should ensure the availability of convenient complaint channels (more than one), and that stakeholders are made aware through the company’s website or annual report of all channels available for complaints.
6.5.2 The board should ensure that the company has a clear whistleblowing policy, including designated whistleblowing channels for reporting of suspected wrongdoing, such as through the company’s website, e-mail, designated independent directors or the audit committee. The board should ensure proper and effective handling of whistleblowing complaints, including the investigation, any remedial action, and reporting to the board.
6.5.3 The board should ensure that whistleblowers are protected from retaliation as a result of their good faith whistleblowing activities.
The effectiveness and success of whistleblowing mechanisms is significantly dependant on how well accepted they are. Acceptance, in turn, is significantly dependant on how the primary criteria of independence, security, confidentiality and accessibility are met or ensured.
BDO EthicsLine is a mechanism that meets all of these criteria and more and, in doing so, will also help to ensure alignment with legislation and regulatory guidance. It is an online whistleblowing portal that can be easily integrated into your organisation’s ethics and compliance mechanisms, and which meets our eight key characteristics and criteria.
To obtain more information on the BDO EthicsLine service please contact us directly.