Due to the high complexity of legal and regulatory requirements, the topic compliance became increasingly relevant to companies within every industry sector. This particularly applies to companies being active in an international context, that need to follow specific requirements and obligations and are as such exposed to higher risks with potentially drastic consequences.
In the interest of its members, clients and business partners, CGCIC and its Board of Directors therefore take this challenge very seriously. Compliance describes internal company measures, that ensure a lawful conduct of the management and the employees of a company in accordance with all applicable laws and internal guidelines. A Compliance Management System should furthermore aim to enforce an effective monitoring and control mechanism for a lawful behaviour of all employees.
Last, it shall ensure that the management is equipped with the proper instruments to react to potential violations. In order to achieve these objectives, CGCIC and its Board of Directors established a comprehensive set of internal company policies that cover the applicable laws to provide all employees and the management with reliable instructions for all areas of CGCIC’s day-to-day activities, thus ensuring a higher degree of protection against legal risks.
CGCIC’s internal policies established a reporting mechanism that ensures all occurrences within the company are reported to the management in a timely manner. Furthermore, the Audit Committee of CGCIC’s Board of Directors will regularly address the company’s compliance, whereby the established company policies will be reviewed by an independent audit firm on a regular basis.