How your organisation structures and manages its whitstleblowing arrangements is vital to maximising the value of your whitstleblowing programme and managing the risks which your organisation faces.
In an environment where the treatment of Whistleblowers is under increasing public scrutiny, legislators, regulators, investors, boards and employees are all taking notice. Recognising the value of Whistleblowers to organisations and the wider economy, the EU passed a directive in 2019 which will be in full force by the end of 2021.
The resulting changes to legislation will dramatically increase protection for Whistleblowers and mandate the implementation of internal and external reporting mechanisms. The UK is currently looking to replace the Public Interest Disclosure Act 1998. Once seen as a leading piece of legislation, the Act has now been called ‘unfit for purpose’ and ‘toothless’ in the Commons. This is in addition to recent legislative changes such as SAPIN II in France, Sarbanes Oxley (SOX) in the US and recent amendments to the Whistleblower Protection Act (2004) in Japan.Your organisation's Whitstleblowing arrangements will differ by jurisdiction as each piece of legislation will vary, however there are a range of best practices which are applicable regardless of physical location. Your arrangements will also vary depending on the size and complexity of your business and the sector in which you operate.