Compliance Management in Africa

When considering ‘compliance’, we need to understand the various nuances of compliance-related terms associated with compliance and compliance management – especially in the context of doing business in Africa. According to the Compliance Institute of South Africa manual, the following definitions of compliance-related matters are mentioned and should be considered when looking at compliance management from the African point of view:
a) Compliance culture – this refers to the culture of shared values, beliefs, assumptions and behaviours that exist within an organisation and which characterise organisations and how they respond to compliance obligations.
b) Compliance philosophy – this refers to the organisations’ perspective on compliance as it relates to integrity, fair dealing, accountability and transparency. It also refers to the approach on which compliance will be based.
c) Compliance programme – this refers to the plan of activities to be undertaken by the compliance function over a period of time, which should include, among other things, the review of policies or procedures, a compliance risk assessment and routine monitoring. It also refers to the assumption that the compliance programme is risk-based.
d) Compliance risk management framework – this refers to an organisation’s approach to the management of all categories of compliance risk, including policy and structure (people, systems and processes).
e) Compliance risk management plan – this refers to the document that sets out what needs to be complied with, what has been done and what remains to be done in order to embed compliance into the business operations. It also refers to the current risk of non-compliance.

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