24th September 2003
Luckily for the directors of most UK listed companies the Turnbull Code of Corporate Governance goes largely unenforced and hasn’t generally been proved to have teeth so most directors falling short of their responsibilities get off “scot free”. Disturbingly, it is thought that more than half of the FTSE-350 fails to comply fully with even the minimum recommendations of Turnbull because audit committees refrain from adopting corporate governance best practice – largely through ignorance.
Principle D.2 of the Code states: “The Board should maintain a sound system of internal control to safeguard shareholders’ investment and the company’s assets.” Surely this should include a thorough assessment of a company’s risk from fire and flood? Not so, says Georgine Thorburn, Managing Director of Document SOS, Europe’s leading business continuity and disaster recovery specialist for all paper-based documentation.
“Companies devote a disproportionate amount of time and effort to IT back up systems and yet recovery and restoration of paper documents is critical to business continuity. Over 95% of paper damaged by fire or flood can be fully restored and Document SOS operates a fast track document logging system ensuring business continuity after such a disaster. Restoration is also quicker and cheaper than regenerating the documents and having a contingency plan in place ensures full Turnbull compliance and helps reduce insurance premiums.”
“While adequate insurance cover helps replace damaged buildings and contents, it is much harder to recover reputations and damaged business relationships when business is severely interrupted. The loss of critical documents compiles these problems and is so easily preventable.”
Document SOS offers a comprehensive range of services and a prioritised document tracking system to ensure business continuity. Membership of the Document SOS scheme provides organisations with reassurance that an expert will be on site within a few hours of a disaster for an expert review and treatment. The Company is available 24 hours a day, 365 days a year and carries out detailed risk assessments and the service is bespoke to each organisation. Document SOS is ISO 9001 registered and has been awarded Millennium Product status.
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