Teoresi and whistleblowing: rules for fair play in the companyCorporate
Known as “whistleblowing,” referring to the act of a referee signaling a foul during a game, it has a similar significance in the corporate world. In business, whistleblowing represents a protected channel for reporting unethical or improper behavior within an organization. Teoresi, too, has a whistleblowing policy supported by a dedicated digital platform for collecting such reports. Guido Garelli, Teoresi Legal Counsel, delved into some aspects with us.
What is whistleblowing and what purpose does it serve?
Whistleblowing involves the voluntary reporting by an employee or any other stakeholder as outlined by the EU Directive, of illicit or irregular behavior witnessed within the organization that could harm the community. A famous example is Sherron Watkins, former Vice President of Enron Corporation: in 2002 her whistleblowing actions led to the discovery of irregularities in the company’s financial statements.
The ultimate goal of whistleblowing is to prevent and counteract fraud, corruption, violations to regulation and to Code of Ethics, and promote transparency and corporate ethics.
What whistleblowing systems has Teoresi adopted to counter unethical behavior?
Teoresi has implemented a specific Whistleblowing Policy that regulates the entire reporting process, in compliance with Decree Law No. 24 of March 10, 2023. This policy defines channels for reporting, the scope of reporting, involved parties, and manages conflicts of interest.
It also establishes protections for the whistleblower, the reported party, and all other involved parties, ensuring confidentiality, protection from retaliation, and limitations of liability under certain circumstances.
How does Teoresi ensure the confidentiality of reports during the investigation process?
Teoresi’s dedicated digital platform for managing reports, besides allowing submissions in both English and Italian and guarantee anonymity if chosen by the reporter, ensures continuity in communications between the whistleblower and the Ethics Committee and the Supervisory Body responsible for managing reports. The platform employs all necessary technical security measures to meet confidentiality and personal data minimization requirements mandated by the decree. End-to-end encryption prevents unauthorized access or modification of data, and the system only collects essential data, retained solely for the duration of the investigation.
Why is adopting a whistleblowing system important for Teoresi?
In our commitment to maintaining the highest ethical standards, ethics and transparency are essential pillars of our growing Group. The whistleblowing system is a powerful tool that not only helps identify and rectify potential issues before they escalate but also represents a proactive approach to safeguarding Teoresi’s integrity.
It’s not just a corrective action; it’s a vehicle to consolidate a corporate culture that promotes transparency, integrity, and mutual respect, fostering an atmosphere of trust and responsibility and encouraging the adoption of new proactive actions.
To learn more about Teoresi’s whistleblowing policy and process, visit the dedicated page.