Whistleblowing is a key part of a transparent, accountable, and safe work culture.

Whistleblowers need to know that they can raise an issue when they have reasonable grounds to suspect misconduct or an improper state of affairs involving a firm. Firms should use whistleblower disclosures to address breaches and issues promptly and effectively, as this can improve overall corporate performance.

This report summarises the good practices identified during a targeted review of a selection of entities’ whistleblower programs. The review focused on seven sample firms’ arrangements for handling and using information collected from whistleblower disclosures, and the level of executive and board oversight of those arrangements.

It finds that firms with stronger programs:

• established a strong foundation for the program—for example, through procedures and systems to embed the program’s requirements
• fostered a culture and practices to support whistleblowers
• informed and trained those involved in receiving or handling disclosures about protecting whistleblowers and treating material confidentially
• monitored, reviewed, and improved the program, including seeking feedback from whistleblowers
• used information from disclosures to address underlying harms and improve company performance
• embedded senior executive accountability for the program
• created frameworks to entrench effective director oversight.