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Compliance Risk Management Plans now available online

After a year of intensive development, the Compliance Institute Southern Africa announced today that its Compliance Risk Management Plans (CRMPs) are available for purchase online.

The CRMPs have been developed as a guide and monitoring tool to assist businesses in complying with the requirements contained in relevant Acts. They provide key risk considerations and minimum compliance standards, while focusing users on the concepts of various laws and providing simple, to-the-point actions.

The CRMPs currently available are the Consumer Protection Act; the Financial Advisory and Intermediary Services Act (FAIS); the Financial Intelligence Centre Act (FICA); the Public Finance Management Act (National and Provincial Departments and Constitutional Institutions); and the Public Finance Management Act (National Entities), and their regulations.  The Companies Act (Private Companies) and Companies Act (Public Companies and State-owned Companies) CRMPs are expected within the next week.

“This has been an enormous and, on occasion, extremely challenging project. But the effort has been well worthwhile and we are delighted to finally be able to offer the plans to the compliance industry,” says Julie Methven, CEO at Compliance Institute Southern Africa.

Developed for the Institute by The Contemporary Gazette, the plans represent the next step in the Institute’s drive to help companies better manage their compliance-risk-governance obligations. They build on the Generally Accepted Compliance Practice (GACP) framework, which has become the gold standard of best compliance practice since its launch in 2009.

The purpose of the CRMPs is to guide users through a particular law with understandable actions for consideration that focus on the key concepts of that law, says Methven. “The user then customises the CRMP, based on their specific sector and company circumstances, when responding to each risk rating, control and target dates applicable to each action item.”

The plans are divided into 10 bite-sized questions per category to avoid information fatigue and ensure the user remains focused on the category at hand. Because they were created with simplicity in mind, the CRMPs can be used by anyone with general business experience. They can be easily adapted to the needs of different sizes of companies with different approaches to compliance.

Very importantly, the CRMPs consider the relationship with all other relevant laws, and all references to definitions, related Acts, sections, and regulations are hyperlinked to the appropriate text of the reference law to allow for source information and quality checking. 

“We trust that companies will find the CRMPs a worthwhile and valuable tool for assisting them in their efforts to comply with their relevant regulatory requirements,” says Methven.

For more information or to purchase a CRMP visit http://www.crmps-online.co.za/

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