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:
- Gifts
- Hospitality, entertainment and expenses
- Customer travel
- Political contributions
- Charitable donations and sponsorships
- Facilitation payments
- 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