Different Compliance Strategies

1. What is compliance?
2. What is the future of ISO compliance?
3. How does the future’s Quality, Health & Safety or Risk manager look like?

Compliance is either a state of being in accordance with established guidelines or specifications. In a business environment, compliance means conforming to a rule, such as a specification, policy, standard or law.

The Purpose of a Corporate Compliance Program/ Strategy. A corporate compliance program/strategy is a formal system to help your organization maintain compliance in all areas of operation.

Compliance Strategy is set of policies, responsibilities and business processes that set the way an organisation is managed, controlled and administrated which achieves advantages for the organisation through its configuration of business processes and resources within a challenging environment, to meet the needs of stakeholders, customers, employee’s, etc.

There are a number of compliance requirements, such as legal, client, employee’s, stakeholders, neighbours, the public, and the list can go on…

 

To manage these requirements it’s important to have a framework to work towards. Such frameworks can be as simple as the PLAN, DO, CHECK, ACT methodology of ISO standards or just a simple 7 point framework such as:

  • Establish commitment from Top management to participate in the vision to comply with relevant or adopted requirements;
  • Evaluate compliance based on business risks;
  • Study industry standards and see which fits your organization’s processes the best;
  • Authorise outsourced consultants and experts to assist you to align your company to these standards;
  • Train your staff members and other relevant stakeholders on the vision and requirements that they need to achieve;
  • Be involved in the implementation and coaching. Be an example by complying to what your responsibilities are;
  • Ensure the effectiveness of the programme by evaluating results.

 Risk management and regulatory compliance

Increasingly, businesses are turning to good governance to reap the wider benefits that it brings by developing their governance to become more efficient and effective in managing their business compliance, risks and opportunities. Many organisations today work in new and unknown markets where traditional risk management practices may be insufficient. Understanding of the environment and its unique nuances and then mitigating negative impact is key to sustainable business growth and shareholder confidence.

Challenges that can be overcome:

2. What is the future of ISO standards?

The first, most important aspect of any ISO standard, is that the requirements must form part of the business processes. The requirements were invented by industry SME’s and therefore, should be applied in context and to the benefit of the company’s goals.

The future of Quality management

Changes during the next two decades will require a new top manager: The CHIEF Enterprise Integration Officer (CEIO).

The deliverables expected from the CEIO will most probably look like this:

  • Identify high risks to the sustainability of the organization;
  • Reorganize structure and processes to prevent and mitigate those risks;
  • Identify stakeholders that does not adapt to changes, develop skills and transfer stakeholders to a new, better way of achieving results. Should stakeholders not adapt, they literally need to go.

Reporting directly to the CEO, the CEIO will help to create a new kind of organization that will SURVIVE domestic and international market turbulence, satisfy customer’s increasingly critical demands and accelerate the pace of improvement in all its functions.

Where must the CEIO start?

The main achievements of the CEIO will be the 3 R’s, which refers to:

Doing the Right things Right at the Right time

3. How can we help you?

We provide a single point of reference for managing risk associated with regulation and the challenges of meeting regulatory requirements.

We offer a variety of risk and regulatory services to the market that includes:

  • Corporate governance: Identifying governance gaps and recommending governance improvements;
  • Enterprise risk management: Maintaining operational excellence for long term success through the application of VARIOUS ISO requirements, such as: ISO 9001, ISO 14001, ISO 45001, ISO 27001, ISO 22000,ISO 22301;
  • We consult as auditors for BSI Standards Body and ensure that the interpretation of ISO requirements are understood and applied correctly; Training is therefore conducted by registered, internationally qualified auditors;
  • Financial risk management: Identifying, measuring and managing market risk, credit risk and insurance risk. We partner with reputable insurance companies to help you to reduce financial risks. PWC South Africa is one of
    Regulatory advisory: Helping you stay on top of your compliance issues – both at home and abroad. Our Legal team are equipped to deal with difficult statutory incidents and they make it their responsibility to ensure that they advice you right the first time. Reputational damage is not something a business get rid of easily. Social media is a platform that spreads a bad fire very easily. You would want to put this compliance requirement at the top of your priority list;
  • Software solutions: Our team tested various software solutions over the past 4 years and our partners are recommendable for all the criteria that a system must have. Our team offer a vast range of services to ensure that you focus on operations and we on compliance.

Contact us for more information and a proposal that will address your needs