It is important for a business to know where it stands in terms of it’s legal risks. It must therefore identify what legislation is applicable to ensure appropriate controls are implemented and monitored to ensure compliance with legal and other requirements. Examples of other requirements is SANS codes, Company directives, SIMRAC guidelines.
It is important to comply with all legislation however it is required that a risk based approach should be used to determine the level of resources that need to be applied to ensure compliance. There are 5 basic principles that should be applied to determine risk of non compliance.
- Cost of control implementation
- Could non compliance with legal requirement result in a serious injury or illness
- Could adverse publicity result from non compliance to legislation
- Could the company have a loss above the threshold limit
- Fines or imprisonment
Safedox does have a software solution to assist with the identification and evaluation and compliance to all South African legislation applicable to Mining and the Industry allowing for:
- Making legislation available to any industry in electronic format
- Updating legislation as and when changes occur
- Populating the Compliance Register to ensure accountable / responsible persons are identified
- Identify critical legislation for management’s attention
- Auditing of identified legislation for compliance
- Create audit protocols that can be used in house
- Auditing taking place within the legal register and link to relevant legislation where applicable