• Jan 16, 19
  • Jhnet_Dev
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CIPC has released a new guideline for corporate compliance.

 
Some of their recommendations include:
 
  • There must be commitment from top management with regard to a company’s corporate compliance programme
     
  • Clear and practical policies and procedures must be developed and implemented
     
  • Policies should cover:
o   Gifts
o   Hospitality, entertainment and expenses
o   Customer travel
o   Political contributions
o   Charitable donations and sponsorships
o   Facilitation payments
o   Solicitation and extortion
  • Communication and training in this regard must be provided to all directors, officers and employees, including business partners and agents, where applicable
     
  • The corporate compliance programme should be reviewed periodically in order to evaluate and improve the programme, taking into account any new statutory and other developments
     
  • The company must assure itself that all business relationships are transparent and ethical
     
  • There must be a clear and concise accounting policy that prohibits off-the-books accounts or inadequately identified transactions

Download the full guidelines here