Legal, Regulatory and Compliance
Commercial and legal
During the year, the legal function was integrated with the commercial function to ensure seamless specialist support to the group’s various contracts and to provide coordinated representation on the group’s risk review committee. This resulted in more efficient support being provided across the group.
Recently, the key focus for the commercial and legal function was to continue with the alignment of best practice and to focus specifically on the practices and procedures relating to sub-contractors and
joint ventures.
Regulatory compliance
All applicable legislation are identified and filtered to highlight pieces of legislation that potentially expose the group to fines, penalties and other criminal sanction. These are proactively monitored to ensure continued compliance.
With the implementation of the group’s new compliance software system, management is now able to evaluate the group’s compliance performance in more detail, such as by business segment or region. This allows the identification of problem areas more proactively and effectively.
|
