|
(MoneyNewsWire.Net, November 04, 2015 ) Johannesburg -- According to the information of the Compliance Institute Southern Africa the Compliance board and compliance officers should be trusted because their work is vital.
He comments, "The work carried out by the compliance board and its officers is vital because organizations rely on them for guidance, recommendations regarding regulatory responsibilities. Since its establishment 20 years ago, the Compliance Institute of Southern Africa has grown to become an influential partner for businesses across a variety of industries.
By developing, establishing maintaining efficient and effective compliance risk management processes, businesses are able to build upon improved compliance characters that resonate throughout the industries. "
He stated that the objectives of the body are to Identify, establish, maintain and promote international compliance best practices. Build synergistic rapport between organizations on compliance issues and to create liaison with similar organizations in other countries.
Provide accreditation for compliance professionals and establish, maintain and promote standards for compliance functions. To establish a credible character, businesses can take CISA's support with its effective Compliance Risk Management Plans (CRPMs). These plans serve businesses as a guide and monitoring tool to assist them in complying with the requirements contained in the relevant Acts.
With the advent of the 21st century, considerable changes have been made in the fields of corporate governance, compliance and risk management. Being a part of the compliance and ethics bandwagon ensures proper safeguarding of the business and those working towards its success. It is a known fact that ethical lapses and conflicts of interest among large players led to the economic collapse and recession that commenced in 2008.
He noted, "It is important to remember that compliance is critical and challenging, but not the only solution. Businesses must realise that there is a vast difference between compliance, code of conduct compliance and ethics compliance - in fact, these are on different levels. The consideration of ethics in an organization ensures the elevation of overall performance and success. A Compliance Risk Management Plan is also important. "
He added the benefits of well-rounded ethics included in the compliance guide, "The advantages of a holistic ethics compliance programme include improving employee morale, lowering employee misconducts, increasing employee's willingness to report misconducts.
Improving overall corporate profitability as well as increasing sustainability of operations. Offering a competitive advantage to the organization. Promoting disciplined thinking across the board, offering a feel good factor across levels, promoting disciplined thinking across the board."
He concluded, "Thus, a compliance program embedded with ethics is based on personal and well as institutional values. Ethics allow the compliance program to be more integrated with the organizational mission, vision and strategies." For more information visit http://www.compliancesa.com/
About Compliance Institute of SA:
The Compliance Institute Southern Africa is a Non-Profit Company with a vision to be independent, a professional body for all compliance professionals. Its main objectives are to establish, maintain and promote standards for compliance functions and compliance officers. The strategic direction of the Institute is the responsibility of the Body. The daily management rests with the Chief Executive Officer, supported by the Executive Committee.
Compliance Institute of SA
Ms J Methven
011 642 7974
info@compliance.com
Source: EmailWire.Com 
|
