Tag: compliance

The role of the CFO has evolved dramatically in recent years, especially with finance and IT becoming more connected than ever before. Besides managing the company’s finances from top to bottom, CFOs now have many new responsibilities to fulfil.

Organisations started outsourcing specific business activities in the 1990s mainly as a cost-saving measure. Functions not related to the core business, such as accounting, human resources, data processing, security and maintenance were contracted out to specialised service providers rather than handled by internal staff and resources.

Payroll fulfils many roles within an organisation. Besides being responsible for employees’ compensation and ensuring that the business complies with various legislations, payroll can also drive engagement with employees. Payroll managers have many hats to wear within a business.

Leading organisations can be lonely and a coach and mentorship make a real difference. This is especially true when you are an inexperienced CEO in a small start-up or a fledgling scale-up.

The recent court order instructing the Passenger Rail Agency of South Africa (PRASA) to make available audio recordings of one of their board meetings has highlighted the urgent need for boards to develop policy around this issue.

Green credentials have become a fashionable must-have for organisations in most industries, however, to effect real change, environmental policy needs to be far more than rhetoric, or indeed, a compliance exercise.

The SAICA Code of Professional Conduct (the Code) has, since 2006, set out certain fundamental principles that members and associates (accountants) should adhere to. The principles are integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.

While most organisations recognise the need for a compliance function, the complex nature of this essential structure renders many unsure of how to establish a comprehensive, dynamic and specific programme that addresses the basics and ensures the organisation remains compliant in all spheres.

The first reports and disclosures in line with King IV principles are beginning to appear. King IV is effective in respect of financial years starting on or after 1 April 2017. It would appear that certain organisations still require a deeper understanding of the implications of King IV’s 'apply and explain' approach.

The business risk landscape continues to evolve and has challenged the compliance and ethics efforts of organisations worldwide. PwC's 2018 State of Compliance Study shows how leading compliance and ethics organisations are prioritising cultural impact and embracing technology to increase their effectiveness.