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Strategies for telco success through governance

Chris West Chris West
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Strong governance helps telecoms operators facing a volatile, uncertain, complex and ambiguous world. Here we look at current sector performance and highlight some areas for attention.

UK large listed telecoms sector corporate governance review (PDF, 402kb) - June 2017 [ 402 kb ]
Benchmarking against our in-house governance data, the Grant Thornton Governance Institute has reviewed the governance performance of the UK’s large listed telecoms companies. Here we measure compliance with the UK’s governance code looking at their leadership, effectiveness, accountability, remuneration and shareholder relations. 

AIM telecoms sector corporate governance review (PDF, 381kb) - June 2017 [ 381 kb ]
AIM listed companies are not required to comply with the UK Corporate Governance Code, and tend to be smaller and less complicated than Main Listed companies. This means they will require less developed governance structures. For those companies that want to improve their governance structures, here are some highlights benchmarking against our in-house governance data.

Tax governance and telcos (PDF, 143kb) - June 2017 [ 143 kb ]
Scrutiny from the media and HMRC in relation to tax transparency has pushed tax up the boardroom agenda with managing reputational risk more important than ever. Telco’s can be very large and complex, are on the frontline of the changes and need to continue to adapt to the developing environment.

Tax operations in the telecoms sector (PDF, 85kb) - June 2017 [ 84 kb ]
With an increasing need to collect richer tax information and automate tax decisions in ‘real time’ the telecoms sector needs to automate and leverage new technologies, such as machine learning. We are seeing increasing numbers of clients consider the potential that these technologies offer for areas such as tax, finance and treasury from cost, efficiency and risk management perspectives.

Telco response strategies to meet the GDPR and PECR notification deadlines (PDF, 87kb) - June 2017 [ 87 kb ]
This paper highlights that the 72 hour requirement to notify breaches under EU’s General Data Protection Regulation (effective from 25 May 2018) is a luxury for the telco sector.  The EU’s Privacy and Electronic Communications Regulations (effective now) requires telcos to notify within 24 hours: telcos need to have response strategies in place to deal with a breach when it arises.