Vigil mechanism
ESG & GovernanceA company's formal whistleblower system, through which directors and employees can report genuine concerns.
Section 177(9) of the Companies Act and LODR Regulation 22 require listed companies to set up a vigil mechanism that protects whistleblowers from victimisation and, in suitable cases, gives them direct access to the chair of the audit committee. The policy must be on the company's website. How a company handles complaints, for example through an independent outside investigation, says more than the policy itself.
Related terms
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