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BUSINESS MODEL
AND STRATEGIC
OBJECTIVES
LEADERSHIP
GOVERNANCE
SHAREHOLDERS’
INFORMATION AND
ADMINISTRATION
OPERATING
PERFORMANCE
FINANCIAL
PERFORMANCE
BLUE LABEL INTEGRATED ANNUAL REPORT 2014
51
COMPLIANCE
REPORT
Blue Label has created a compliance function to assist
in discharging legal and regulatory responsibilities.
It is planned to mature the function to monitor,
research and report on the regulatory environment in
which the Group operates. The compliance function
reports to the ARCC.
The process of compliance reporting will encompass:
➔
➔
identifying and prioritising all acts and regulations
at a national level applicable to Blue Label;
➔
➔
incorporating regulatory requirements into control
measures such as standard operating procedures or
processes, manuals or policies;
➔
➔
recommending corrective measures or steps to
ensure compliance; and
➔
➔
monitoring compliance through the adequacy and
effectiveness of control measures, which includes
the use of best industry practice software
compliance tools to actively monitor and manage
business units’ compliance against regulations on
a continual basis. This software tool permits the
executive and Board to measure compliance and
to identify any weaknesses that require redress.
There have been no material instances of non-
compliance by the Group or its directors during the
past financial year.