The following self-check questions can assist with the Board’s evaluation of corporate culture and consideration of the issue of alignment. The Board can take into account both quantitative data and qualitative indicators.

Existing corporate culture – Are the directors discussing corporate culture at Board meetings including alignment of strategy, values and behaviour?

Implementation of structures to put in place alignment – Are the relevant functional teams (e.g. internal audit, human resources, communications and compliance and risk) adequately empowered and resourced to embed values and assess corporate culture effectively? Have they worked collaboratively and reported to the Board regularly to help the Board draw insights into culture?

Communication channels – What are the measures and channels in place for the Board to communicate the desired culture and expected behaviour to staff members? Where the issuer has a code of conduct, is it up-to-date and has it been adequately communicated to all employees?

Human resources process – How are the issuer’s values and culture (including expected behaviour) embedded in human resource processes and policies?

Remuneration / Incentives – Are the mechanisms for determining remuneration transparent and objective in order to further the desired culture? Has the issuer included behavioural objectives and performance in leadership and employee appraisals? Do the issuer’s financial and non-financial incentives support these objectives and the desired culture?

Board evaluations regularly conducted – Whether Board evaluations of corporate culture are being conducted, their frequency and whether a summary of the evaluations have been disclosed?

Accountability – Does the Board hold the responsible individuals, committees or functional teams to account where misalignment in corporate culture is observed?

Training – Has the issuer provided training to its directors and employees to ensure behaviour is aligned with and reflects the issuer’s values?

Feedback channels – Is there a forum for stakeholders, including for employees, to share their ideas, feedback and concerns? Has the Board taken these into consideration?