Governance Reviews and Gap Assessments

A gap assessment is a systematic process for evaluating the key strengths and areas for improvement between an organisation’s current state and its desired future position. This analysis can be a valuable tool in several contexts such as business management, project planning and compliance with regulatory standards. By identifying these gaps, organisations can gain helpful insights into areas that require more development. 

Most often, clients find gap assessments helpful when they aim to align with a reporting standard such as the Task Force for Climate-Related Disclosures (TCFD), Global Reporting Initiative (GRI), The Sustainability Accounting Standards Board (SASB), or the Social Value Principles. They can also be useful for aligning with sector specific standards such Sustainability Reporting Standard for Social Housing (SRS). 

Gap assessments are also useful as part of a governance review. A governance review looks at the current governance policies, documentation, and processes in place and where any gaps may exist. For governance reviews we aim to analyse a business’s alignment to a particular governance code where applicable such as: the FRC’s UK Corporate Governance Code; The Charity Governance Code; Corporate Governance in Central Government Departments; or, the Wates Corporate Governance Principles for Large Private Companies, to ensure best practise. 

Asesoria tailor our gap assessments for the individual organisation and the applicable standard. The typical steps include a desk review of key documentation, interviews with key individuals followed by a comprehensive report with prioritised recommendations. 

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