Organisations are continuously challenged by the complexity and increasing number of laws, regulations, codes and standards that need to be complied with. Never before has the need for an effective compliance function been so acute.
King III states that it is the responsibility of the board to “ensure that the company complies with applicable laws and considers adherence to non-binding rules, codes and standards”.
It further recommends that “compliance risk should form an integral part of an organisation’s risk management process” and that the board should “delegate the implementation of a compliance framework and processes” to management.
KPMG provides various solutions to clients in both the public and private sector to ensure compliance.