The Association of Corporate Counsel (ACC) has developed five indicators that all directors, particularly non-executive directors, should look to in order to assess whether a company’s general counsel is well-positioned to have a positive influence on corporate culture.
Corporate culture is widely acknowledged as adding value to companies, both in terms of improving financial performance and in creating an atmosphere that encourages ethical behaviour. Corporate culture is not a topic typically linked to a company’s general counsel and legal department, but the failure to draw that link may prove shortsighted on the part of the board. Given the importance of the general counsel in matters of ethics, compliance, corporate governance, and risk and reputation management, the general counsel should be a key ally and partner in establishing a corporate culture that supports corporate performance without compromising ethical behaviour, and legal and regulatory compliance.
