Survey reveals one-third of boards do not define the culture they want among employees, while one-fifth said culture is included as an aspect of their audit.
Almost one-third of boards (31%) in the private and public sector failed to formally describe the kind of corporate culture they want in their organisations. The conclusion came from a survey by the Chartered Institute of Internal Auditors (IIA) and emerged a day before the UK’s corporate governance regulator, the Financial Reporting Council, issued its own report on corporate culture. The IIA's survey also found that only 36% of organisations assess whether their defined culture is “manifested” in the behaviour of their staff. In further results the institute found that 20% of respondents plan to include culture in their audits. However, a quarter of those polled said they had no plans to include culture in their audits ove