47 / 198
45
BLUE LABEL INTEGRATED ANNUAL REPORT 2016
Compliance report
Blue Label’s compliance function
oversees the discharge of legal and
regulatory responsibilities. The
function monitors, assesses,
researches and reports on the
regulatory environment in which the
Group operates. The compliance
function reports to the Audit, Risk and
Compliance Committee.
The process of compliance reporting
encompasses:
•
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
compliance tools and active
involvement by Blue Label’s internal
auditors to actively monitor and
manage each business units’
compliance against regulations on a
continual basis.
There have been no material instances
of non-compliance by the Group or its
Directors during the past financial
year.