Corporates, beware of falling foul of the law
Corporations of all sizes have a legal responsibility to comply with the laws and regulations as they apply to the different sectors of business. They also have a responsibility to act in the best interests of the business and its stakeholders.
Corporate governance can be defined as a system by which companies are directed and controlled by their board of directors. Good corporate governance in a company is important as it ensures the effective running of the company. It also ensures that all the stakeholders of the organisation follow appropriate and transparent decision-making processes. The principles of good corporate governance include compliance with the law.
“A company and its responsible parties need to comply in all aspects with the laws and regulations relating to it’s operations. Failure to do so can lead to legal and financial consequences and reputational damage,” says Sanet Vos, Sabinet’s Head of Product.
Legal requirements include compliance with financial reporting, labour practices, environmental impact and more. The laws relating to businesses include employment laws, consumer laws and intellectual property laws. Employment law involves keeping employees safe and ensuring that employers are fair. Consumer law involves protecting consumers and anyone purchasing products and services.
Companies are obliged to always stay on top of legislation, as well as amendments to legislation, updates, and case law. This is where Sabinet steps in to relieve the burden of law. “Sabinet offers high-quality consolidated legislative information products, but further supports companies with Sabinet Judgments which provide its users with unrivalled online access to reported and unreported South African judgments from the Supreme Court of Appeal, High Courts, Labour Court, and Labour Appeal Court. Sabinet Judgments also links to other related Sabinet offerings (such as legislation, articles, and relevant cases) for easy and seamless access.
“It is essential to maintain the trust and confidence of stakeholders and to ensure the long-term sustainability of a business. All companies must ensure that they are socially responsible and ethical and that they are not engaging in activities that could harm stakeholders or the environment.
“This requires a deep understanding of the legal and regulatory landscape, as well as the ability to implement effective compliance programmes and risk management strategies,” says Vos.
Sabinet Judgments also links to other Sabinet product offerings by flagging documents of interest. Sabinet Judgments is linked to NetLaw, Provincial NetLaw, Municipal By-laws and Bargaining Council Agreements which users can choose to access if they are already subscribed to these products or by making a once-off purchase.
If you would like to find out more about Sabinet Judgments or you are interested in enriching your knowledge of the law or you wish to work faster and smarter, click here to register for a free demo of Sabinet Judgments.
To learn more about our offering, download our brochure or visit discover.sabinet.co.za to browse our content.