Corporate governance in the TÜV NORD GROUP
Corporate governance within the TÜV NORD GROUP stands for responsible corporate management and control geared towards long-term value creation. It guarantees the correctness of all business processes and organisational structures within the Group. The basis for corporate governance is provided by the current requirements of the German Stock Corporation Act.
All key requirements for joint stock companies in Germany as specified by the German Act on Control and Transparency in Business (Contra), which is embodied in the German Stock Corporation Act are adequately fulfilled within the TÜV NORD GROUP:
- The Supervisory Board and Board of Management have set up efficient external and internal control structures and processes.
- The Internal Control System (IKS) includes a risk management system and enables early identification and prevention of risks.
- The Group's Internal Auditing Department continuously monitors the effectiveness of the control processes and reports on this directly to the Board of Management on a regular basis.
- The compliance organisation, which has "Compliance" as the central point of contact, supports all employees in ensuring lawful and responsible actions.
Implementing corporate governance in day-to-day business is supported by precise rules and instructions. All employees have permanent access to these rules and instructions via the intranet:
- Corporate guidelines of the TÜV NORD GROUP
- Code of conduct for all employees of the TÜV NORD GROUP in Germany and abroad
- Corporate guidelines
- Integrated management system, certified in accordance with ISO 9001
- The TÜV NORD GROUP has appointed an ombudsman