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Thread: Corporate Governance Compliance

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    Corporate Governance Compliance

    We've recently started implementing a new streamlined IT strategy - using software to make our processes easier. One of the ways we have really saved time with audits, managed our data risk and ensured corporate governance compliance is through our own data backups. Is corporate governance compliance a big consideration for South African businesses today and what do you do to make it easier to achieve?

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    Quote Originally Posted by cibecs View Post
    Is corporate governance compliance a big consideration for South African businesses today and what do you do to make it easier to achieve?
    I'd say "yes" and "have external audits." The most important element in corporate governance compliance is being able to pass the buck when the sh*t hits the fan.

    Quote Originally Posted by cibecs View Post
    One of the ways we have really saved time with audits, managed our data risk and ensured corporate governance compliance is through our own data backups.
    Out of curiosity, how does doing your own data backups save time with audits?
    The trouble with opportunity is it normally comes dressed up as work.

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    We use data backup software and it saves us a significant amount of time. When it comes to management reporting, data risk management and proving compliance having reports that are easy to pull and monitor has made a huge difference.

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    Just some input regarding Corporate Governance in SA ... with the entry of the new companies act, King III code will beging being used as a benchmark against which directors are measured, and where companies fail, or are put into involuntary liquidation, directors can be held accountable for not performing their fiduciary duties in terms of common law principles and also King III code benchmarks.
    If you need any Accounting, Tax or even Financial Management advice, PM me and I'll try help and keep your information confidential.

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    King III

    Good Point! Here's a good rundown on King III and why data backup is so important in achieving Corporate Governance Compliance. http://www.cibecs.com/_blog/Cibecs_B...bout_King_III/

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