Print
Compliance - a risk management or best practice approach?
June 4, 2007 – 9:48 pm by Lance MichalsonFew topics in IT have garnered more attention during the last few years than compliance. Through a combination of new laws (particularly the ECT Act), well publicised fines overseas and the threat of criminal penalties - as well as the fear, uncertainty and doubt created by vendors - compliance has created real interest and concern within companies.
When deciding how to address the issue, organisations need to decide whether to adopt a risk based or best practice approach or a combination of the two.
“Compliance” is a specific discipline that is practised within dedicated departments in many regulated organisations (such as banks and insurance companies). Section 47 of the Banks Act No 94 of 1990 and the Financial Advisory and Intermediary Services Act stipulate that an independent compliance function should be established in banking and financial services entities respectively.
- Subscribe - unlimited access for R495 per month per subscriber. It's quick and easy, and you can unsubscribe at any time. Find out more about the benefits of subscribing. Why you should pay for the content. Subscribe Now.
- Register - limited access for FREE, and without obligation. It's quick and easy to get greater access instantly. Select "Free Account" under the Subscription Options. [ Register ]
Similar:
- Who uses us
- What is information security?
- Guide to Email Management
- Infosec and King II
- Why choose us
You must be logged in to post a comment.