Keep your finger on the pulse with ever-changing regulations
21 Jun 2017
Reducing liability and business risk in an ever-changing environment can be challenging for most organisations. No matter what industry your business is in, compliance is an essential part of operations.
Enforcing compliancy can save your organisation millions of rands in fines, increases productivity and reduces court cases in our current landscape where anything can happen.
In a presentation hosted by Sabinet last week, guest speaker Alec Hogg expressed the current state of South Africa’s economy. What happens when no one complies with a country’s rules and regulations, how does a country become bankrupt? The answer was simple; “gradually then suddenly”. Even the highest powers must comply with rules and policies.
We live in a world where information is easy to find, a connected era. Various sources reveal the answers to our questions, but how can we be sure that we are using the most accurate and reliable resources? How do we know that the Act we are reading is applicable today? Or how do we know when to comment on draft bills that impact our businesses directly?
Information about regulatory issues, industry trends and parliamentary documentation is crucial to the development of our economy. Compliancy not only deals with business operations but also helps employees to stay focused on the organisation’s broader goals.
No business can afford to ignore the need for accurate, current and reliable information. Although many businesses do not have the budget, it’s important for them to have cost-effective ways to keep abreast of legal and industry changes that have significant impact on operations.
Cognisant of our role as an organisation’s eyes and ears, we aggregate professional sources to certify unbiased and objective reporting. Sabinet Monitoring Services lets you stay up to date with the latest legislation as well as the potential impacts of not being compliant with the law all from a single, reliable source.
As a research tool, the Monitoring Service offers a consistent early warning service for legislative movements – applicable to any industry. Customised legislative notifications are immediately delivered directly to your inbox. Further complementing this service, clients have access to Bill Tracker and Parliamentary Documents with customised alerts for tracking bills and draft bills before they become Acts. By commenting on these ahead of time, you have the power to be ahead of the curve with legal compliance impacting your industry.
Even information that was reliable when it was first published can become unreliable if it is not kept up to date. There is a lot of information being shared on the Internet, and one can find almost anything on just about any topic imaginable. It is becoming increasingly difficult to get reliable online information – so it is important that you invest in getting reliable, accurate and relevant information from one trusted source before you make any decision.
To gain more insights on Alec Hogg’s presentation, click here.(This article is provided for informational purposes only and not for the purpose of providing legal advice. For more information on the topic, please contact the author/s or the relevant provider.)